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Capital Theory, Crises, and Business Cycles: The Triangular Debate between Hayek, Keynes, and Sraffa

Author

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  • Heinz D. Kurz

    (The Graz Schumpeter Centre, University of Graz, Graz, Austria)

Abstract

The paper discusses aspects of the triangular debate between Hayek, Keynes, and Sraffa on economic crises, business cycles and the role of capital theory in an analysis of these phenomena. It is argued that Sraffa was both critical of Hayek's monetary overinvestment theory and Keynes's use of the concept of commodity rates of interest Sraffa had employed in his criticism of Hayek and of Keynes's theory of liquidity preference.

Suggested Citation

  • Heinz D. Kurz, 2015. "Capital Theory, Crises, and Business Cycles: The Triangular Debate between Hayek, Keynes, and Sraffa," Journal of Reviews on Global Economics, Lifescience Global, vol. 4, pages 186-191.
    • Handle: RePEc:lif:jrgelg:v:4:y:2015:p:186-191
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    Citations

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    Cited by:

    1. Saverio M. Fratini, 2019. "A note on re-switching, the average period of production and the Austrian business-cycle theory," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 32(4), pages 363-374, December.
    2. George C. Bitros, 2018. "Monetary Policy, Market Structure and the Income Shares in the U.S," Open Economies Review, Springer, vol. 29(2), pages 383-413, April.
    3. Fratini, Saverio M., 2018. "A note on re-switching and the neo-Austrian concept of the average period of production," MPRA Paper 87306, University Library of Munich, Germany.
    4. Antonio Magliulo, 2018. "The reception of Austrian economics in Italy," Russian Journal of Economics, ARPHA Platform, vol. 4(1), pages 65-86, April.

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