The Role of the Economist in Economic Development
Volume 9, No. 2 (Summer 2006)
Volume 9, No. 3 (Fall 2006)
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.