All Posts Tagged With: "capital structure"
Not More Capital — the Right Capital
Capital and labor need to restructure themselves to meet the new reality of the post-crash marketplace. Just throwing more capital at firms won’t help.
22Jul2010 | Steven Horwitz | 9 comments | Continued“I, Pencil” Revisited
Leonard Read’s classic essay, “I, Pencil,” is justly celebrated as the best short introduction to the division of labor and undesigned order ever written. But it holds another, largely overlooked lesson as well: “I, Pencil” is an excellent primer in the Austrian approach to capital theory. Read’s pencil describes its family tree, beginning with the [...]
24Apr2009 | Sheldon Richman | 0 comments | ContinuedOn the Austrian Theory of the Trade Cycle, Part II
I’m not sure where recent events—the economy’s still-ongoing turmoil—leave my assessment of the Austrian theory. But I am much more inclined now to find in it the empirical oomph that for so many years I thought it lacked.
1Apr2009 | Donald J. Boudreaux | 6 comments | ContinuedPaul Krugman Flunks Capital Theory
Nobel laureate and New York Times columnist Paul Krugman is said to have bested commentator George Will over what prolonged the Great Depression during a joint appearance on ABC’s “This Week with George Stephanopoulos” back in November. But all Krugman really did was show that he, as a Keynesian, holds an unrealistic Play-Doh model of [...]
1Apr2009 | Sheldon Richman | 6 comments | Continued-
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