On capital, saving, and investment in the twenty-first century: a reply to Hein

Carl Christian von Weizsäcker and Hagen M. Krämer
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Carl Christian von Weizsäcker: Max Planck Institute for Research on Collective Goods, Bonn, Germany
Hagen M. Krämer: Karlsruhe University of Applied Sciences, Germany
Authors registered in the RePEc Author Service: Hagen M. Krämer

European Journal of Economics and Economic Policies: Intervention, 2021, vol. 18, issue 3, 303–309

Abstract: With our book Saving and Investment in the Twenty-First Century: The Great Divergence (published as open access), we present a comprehensive theoretical explanation as well as empirical evidence for the phenomenon of low interest rates observed in the OECD countries and China and make various economic policy recommendations based on it. We have developed a new capital-theoretical approach to address these important issues. In what follows, we will discuss some of the more critical parts of Eckhard Hein’s otherwise very sympathetic review of our book.

Keywords: capital; saving; investment; macroeconomics; economic policy; public debt; neo-Austriancapital theory; Keynesian economics; natural rate of interest (search for similar items in EconPapers)
JEL-codes: E12 E13 E14 E20 E21 E22 E43 H63 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:elg:ejeepi:v:18:y:2021:i:3:p303-309

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