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The Importance of Capital Theory

  • Audio Mises Daily

Tags The FedCapital and Interest TheoryOther Schools of Thought

10/22/2008Robert P. Murphy

As I have read countless analysts, including professional economists, offer "solutions" to the financial crisis, I have become more convinced of the importance of capital theory. You see this with the dichotomy people keep drawing between the financial markets and the "real economy," a distinction that is useful for some purposes but which in this context often reinforces the idea that the stock market is really just a casino, writes Robert P. Murphy.

This audio Mises Daily is narrated by Floy Lilley.

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