Macroeconomics

Alan G. Futerman () and Walter E. Block ()
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Alan G. Futerman: University of the Latin American Educational Center
Walter E. Block: Loyola University New Orleans

Chapter Chapter 4 in The Austro-Libertarian Point of View, 2021, pp 69-84 from Springer

Abstract: Abstract When governments 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 chapter is an attempt to move us in that direction.

Keywords: Business cycle; Austrian economics; Inflation; Depression; E14 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-4691-1_4

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DOI: 10.1007/978-981-16-4691-1_4

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