Caton, James; Wagner, Richard E. - In: New thinking in Austrian political economy, (pp. 95-117). 2015
Traditional Austrian cycle theory starts from general equilibrium and explains how an expansion of bank credit … refocuses the analytical agenda of macro theory. Our key analytical feature is the conceptualization of a macro economy as … from micro-level interaction. In turn, the computation of optimizing actions is beset with undecidability. The theory of …
