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in a situation of imbalance, the resulting expansion stage is followed by a recession. On the other hand, if instead the … crisis. The purpose of this essay is to demonstrate, on the other hand, that because of profit expectations and the combined …-called ‘sustainable' boom will be affected by a liquidation and settling crisis. What distinguishes the latter situation from the …
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) - that the ABCT literature has paid little attention. Will a constant rate of credit expansion necessarily lead to a boom …
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In a recent contribution to this journal Severino Fratini (2019) offers a critique of our work on Austrian Capital Theory on the grounds that our conception of capital and “roundaboutness”. In this comment we explain why we think this criticism is wrong
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