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The Two Contributions of Garrison's Time and Money

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Tags Business CyclesCapital and Interest Theory

07/30/2014Randall G. Holcombe

 

Volume 4, No. 3 (Fall 2001)

 

Garrison's Time and Money picks up where Hayek left off, developing a macroeconomic model based on Austrian capital theory that provides significant insights into macroeconomic phenomena. My title here is slightly misleading: how does one count contributions?  In one sense, Garrisons's Time and Money makes more than two contributions, but in another way, maybe the whole book should just count as one contribution.  The two contributions referred to in the title here are the book's contributions to macroeconomics and to Austrian economics, which are sufficiently distinct that they can be counted separately.

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Contact Randall G. Holcombe

Randall G. Holcombe is an Associated Scholar of the Mises Institute, DeVoe Moore Professor of Economics at Florida State University, past President of the Public Choice Society, and past President of the Society for the Development of Austrian Economics. He received his Ph.D. in economics from Virginia Tech, and has taught at Texas A&M University and Auburn University. Dr. Holcombe is also Senior Fellow at the James Madison Institute and was a member of the Florida Governor’s Council of Economic Advisors. His books include From Liberty to Democracy: The Transformation of American Government (2002), Producing Prosperity (2013), and Political Capitalism: How Economic and Political Power Is Made and Maintained (2018). His primary areas of research are public finance and the economic analysis of public policy issues.

Cite This Article

Holcombe, Randall G. "The Two Contributions of Garrison's Time and Money." The Quarterly Journal of Austrian Economics 4, No. 3 (Fall 2001): 45-50.

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