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Two paths forward for Austrian macroeconomics

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  • William J. Luther

    (Florida Atlantic University)

Abstract

Twenty years ago, two scholars published important books on the subject of Austrian macroeconomic theory. Each offered a somewhat distinct approach. And, as much as it was the case when these two works were published twenty years ago, Austrian macroeconomists find themselves with two potential paths forward today. On the one hand, they might stress the temporal structure of production, while incorporating insights from finance. On the other, they might take a more general approach to capital specificity, while deviating from more mainstream economic models only insofar as is essential to preserve a uniquely Austrian view.

Suggested Citation

  • William J. Luther, 2021. "Two paths forward for Austrian macroeconomics," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 34(2), pages 289-297, June.
  • Handle: RePEc:kap:revaec:v:34:y:2021:i:2:d:10.1007_s11138-020-00511-y
    DOI: 10.1007/s11138-020-00511-y
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    Cited by:

    1. Steven Horwitz, 2021. "Microfoundations and macroeconomics at 20: some reflections," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 34(2), pages 323-330, June.

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    More about this item

    Keywords

    Austrian; Business cycle; Macroeconomics;
    All these keywords.

    JEL classification:

    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles

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