Quarterly Journal of Austrian Economics
Author:
Roger W. Garrison
Online Publish Date:
Volume 1, No. 1 (Spring 1998) From Adam Smith’s day to our own, economists have tended to treat the intertemporal trade-off as something quite different from other trade-offs that market participants face. Whether based on the impartial spectator or on a perceived consensus among economists or on a supposed magic of compounding, their thinking