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Second Thoughts on the Circular Flow Diagram
Power & Market
Author: John Foster
Online Publish Date:
The Circular Flow Diagram has dominated economic thought for over a century.  Yet, all along we’ve known its shortcomings: over-aggregation, static capital, instantaneous production, and homogeneous factors. It places consumption before production and supports a fantasy macro world where saving is destructive, deficits don’t matter, and MMT makes
The Economics Book Gives Mises Some Much-Deserved Attention
Mises Wire
Author: John Foster
Online Publish Date:
Category: Book Reviews
How refreshing to read a widely published economics book which casts the Austrian School in its proper light! The Economics Book is part of DK’s popular series, Big Ideas Simply Explained . The series takes an historical approach to over a dozen subjects such as religion, psychology, art, science, history, and literature. The Economics Book starts