“Austrian capital theory and the view of production as a time consuming process allowed Austrian economists to develop a theory of intertemporal distortions in the structure of production induced by credit expansion unbacked by real savings.” Why Mirowski Is Wrong About Neoliberalism and the Austrian School | Mises Institute

Austrian capital theory and the view of production as a time consuming process allowed Austrian economists to develop a theory of intertemporal distortions in the structure of production induced by credit expansion unbacked by real savings.

Source: Why Mirowski Is Wrong About Neoliberalism and the Austrian School | Mises Institute

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