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EPISODE 2558

Ep. 1045 The Key Ingredient in Why We Understand the Economy, and They Don’t

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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

Mises Intstitute in Poland

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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