Austrian Government Cycle Theory
Austrian Government Cycle Theory
Author(s): Alan G. Futerman, William Barnett II, Walter E. BlockSubject(s): Economy, Political Philosophy, Governance, Political economy
Published by: Wydawnictwo Adam Marszałek
Keywords: bussiness cycle; Austrian economics; inflation;depression;
Summary/Abstract: When government accounted for a small proportion of the economy, the Austrian Business Cycle Theory (ABCT) was apropos because private enterprises comprised the lion’s share of commercial interactions. But, of late, in more and more countries, the share of the economy accounted for by the state has increased, and that by business firms, less and less. Thus, it is time, it is past time, to introduce a new concept, Austrian Government Cycle Theory (AGCT). The present paper is an attempt to move us in that direction.
Journal: Świat Idei i Polityki
- Issue Year: 19/2020
- Issue No: 1
- Page Range: 9-28
- Page Count: 20
- Language: English