Capital Theory and the Process of Inter Temporal Coordination: The Austrian Contribution to the Theory of Economic Growth

Atlantic Economic Journal, Forthcoming

20 Pages Posted: 22 Aug 2016

See all articles by G.P. Manish

G.P. Manish

Troy University

Benjamin Powell

Texas Tech University - Free Market Institute; Texas Tech University - Rawls College of Business

Date Written: June 2014

Abstract

An appreciation of the necessity of the inter-temporal coordination of heterogeneous capital goods is the chief contribution of Austrian economics to the theory of economic growth. Austrian theory illustrates why an institutional environment of freely formed prices predicated on private property is essential for economic growth. This leads Austrians to have a unique take on Solow growth theory, the financing gap model, national economic planning, and aggregative development measures.

Keywords: Economic Growth, Economic Development, Austrian Economics

JEL Classification: O1, O2, B53

Suggested Citation

Manish, G.P. and Powell, Benjamin, Capital Theory and the Process of Inter Temporal Coordination: The Austrian Contribution to the Theory of Economic Growth (June 2014). Atlantic Economic Journal, Forthcoming, Available at SSRN: https://ssrn.com/abstract=2827743 or http://dx.doi.org/10.2139/ssrn.2827743

G.P. Manish (Contact Author)

Troy University ( email )

Troy, AL
United States

Benjamin Powell

Texas Tech University - Free Market Institute ( email )

Box 45059
Lubbock, TX 79409-5059
United States
806.742.7138 (Phone)
806.742.1854 (Fax)

HOME PAGE: http://www.fmi.ttu.edu

Texas Tech University - Rawls College of Business ( email )

Lubbock, TX 79409
United States
806.834.3097 (Phone)
806.742.1854 (Fax)

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