Austrian Macroeconomics: A Diagrammatical Exposition by Roger W. Garrison

Author:Roger W. Garrison [Roger W. Garrison]
Language: eng
Format: epub
ISBN: 978-1-61016-295-1
Publisher: Institute For Humane Studies, Inc.
Published: 1978-11-06T16:00:00+00:00

Figure 8

In concluding this section it may be helpful to follow up on the comparison of the Austrian model and the corresponding Keynesian model. The two models are shown in Figure 8 in the same format as was used in Figure 5. There are now two points of commonality. In addition to the common dollar value of consumption goods, the amount of (exogenous) investment in the Keynesian model corresponds in the Austrian model to the amount of (endogenous) investment brought about by a shift in the demand for present goods. Again, the problems created by expressing the Keynesian model in dollar terms rather than real terms are overlooked.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.