There’s one thing in particular that the Austrian School of economics understands better than do other schools, and it helps to explain why the Austrians in turn better understand how the economy works (and what makes it not work). That thing is capital theory. Boring? Nope. Super important. Here’s what other economists don’t get.
About the Guest
Mateusz Machaj is a professor of economics at the University of Wroclaw in Poland.
Book Discussed
Money, Interest, and the Structure of Production: Resolving Some Puzzles in the Theory of Capital
Guest’s Website
Episode Mentioned
Ep. 1036 What Are Other Economists Missing About the Economy? (Mark Skousen)
Previous Appearances
Ep. 408 The Main Reason Socialism Can’t Work
Ep. 251 The Transition from Communism: The Case of Poland
Ep. 247 Could the ‘Taylor Rule’ Have Prevented the Housing Bubble?
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Audio by Chris Williams Audio.
