This paper reestablishes Hayek's assertion that buying a new overcoat will reduce output and unemployment. It is because the spending is like pulling rice plants to help them grow: it simply kills the plants. The proper way to encourage more output, and hence to enjoy more consumption, is by...

Both Keynes’ and Hayek’s shared the belief that there existed a need to revisit the economic discourse that began in the thirties and involved their respective analyses of growth and the business cycle. This paper looks at these topics and discovers some of the deep methodological, cultural,...

Frontmatter -- Inhaltsverzeichnis -- 1. Einleitung -- 2. Ein Vergleich von Freiburger und Österreichischer Schule -- 3. Schumpeter - Unternehmertheorie und Konjunkturablauf sowie die Frage nach Kapitalismus, Sozialismus und Demokratie -- 4. Milton Friedman - Freiheit und das Wachstum der...