Time and money
Subtitle: the macroeconomics of capital structure
By: Roger W. Garrison
Series: Foundations of the market economy; Foundations of the market economy series
Publisher: Routledge
Published: 2001
Place of publication: London; New York
Language: eng
Number of pages: 272
Subjects: Money; Capital; Macroeconomics
Description: "Roger W. Garrison claims that modern Austrian macroeconomics, which builds on the early writings of F.A. Hayek, can be comprehended as an effort to reinstate the capital-theory core that allows for a real coupling of short- and long-run perspectives. Although the macroeconomic relationships identified are largely complementary to the relationships that have dominated the thinking of macroeconomists for the past half century, Time and Money presents a fundamental challenge to modern theorists and practitioners who overdraw the short-run/long-run distinction. The primary focus of this text is the intertemporal structure of capital and the associated set of issues that have long been neglected in the more conventional labor- and money-based macroeconomics.

This volume puts forth a persuasive argument that the troubles that characterize modern capital-intensive economies, particularly the episodes of boom and bust, may best be analyzed with the aid of a capital-based macroeconomics."--Jacket.
Notes: Includes bibliographical references (p. [256]-264) and index