Capital Theory and the Process of Inter-Temporal Coordination: The Austrian Contribution to the Theory of Economic Growth

G Manish () and Benjamin Powell

Atlantic Economic Journal, 2014, vol. 42, issue 2, 133-142

Abstract: Appreciation of the necessity of the inter-temporal coordination of heterogeneous capital goods is the chief contribution of Austrian economics to the theory of economic growth. Austrian theory illustrates why an institutional environment of freely formed prices predicated on private property is essential for economic growth. This leads Austrians to have a unique take on Solow growth theory, the financing gap model, national economic planning, and aggregative development measures. Copyright International Atlantic Economic Society 2014

Keywords: Economic growth; Economic development; Austrian economics; O1; O2; B53 (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1007/s11293-014-9404-8

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