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Rothbard on V Shaped Average and Total Cost Curves

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07/30/2014William Barnett IIWalter Block

 

Volume 9, No. 3 (Fall 2006)

 

Rothbard (1993, pp. 638–45) refuted the important economic fallacy that excess  capacity is a normal consequence of profit maximizing behavior by businesses in some industries when they are in long-run equilibrium. And, in so doing provided a manifest example of misuse of mathematics in modern economics.

Authors:

Contact William Barnett II

Bill Barnett is professor of economics at Loyola University in New Orleans.

Contact Walter Block

Walter Block is the Harold E. Wirth Eminent Scholar Endowed Chair in Economics at Loyola University, senior fellow of the Mises Institute, and regular columnist for LewRockwell.com.

Click here to see an extensive online compendium of Dr. Block's publications.

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Cite This Article

Barnett, William II and Walter Block. "Rothbard on V Shaped Average and Total Cost Curves." The Quarterly Journal of Austrian Economics 9, No. 3 (Fall 2006): 61–66.

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