Quarterly Journal of Austrian Economics

Monopolistic Competition and Macroeconomic Theory by Robert Solow

The Quarterly Journal of Austrian Economics


Volume 2, No. 4 (Winter 1999)


Solow seems to have no conception of human action as a process of plan coordination, although he uses Austrian-sounding language at one point in discussing “coordination failure” in the marketplace.  He sees the job of the economist as the construction of obtuse mathematical theories to ostensibly explain this alleged “failure,” but not to inquire how market participants act to overcome coordination problems. He doesn’t appear to be the least bit interested in how markets actually work; only to “model” them as inherently “flawed” in order to stroke his own ideological predilections.

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