Keynes’s theory of Aggregate Expenditures from the General Theory is examined and criticized. Keynes suggested numerous reasons why his marginal propensity to consume (MPC) might vary across individuals, over different time periods, and might be fundamentally heterogeneous in other respects, but assumed a constant MPC for tractability.
It may seem unusual that an economist would talk about culture.
The inability of governments to maintain fixed exchange rates in the face of opposing market forces is only further proof of their impotency.
The corn, sugar, and ethanol industries in the US are all part of a complex system of government subsidies and other favors, writes Dave Albin.
This paper provides an empirical investigation of the role of monetary policy in the determination of interest rates and consumption as developed by capital-based macroeconomics
Fiscal Sociology and the Theory of Public Finance merits the serious attention of scholars interested in public economics, Austrian economics, and libertarianism alike.
The objective of this article is to present an extension of Garrison's captial-based macroeconomics" model. Garrison's objective was ― starting from a full employment equilibrium situation
The interest of scholars in the application of mathematics to the social sciences is particularly lively at the present time.
The primary purpose of this paper is to contrast Austrian and conventional concepts of cost.
