Business CyclesCapital and Interest Theory
Works Published inSpeeches and PresentationsMises Daily ArticleThe Journal of Libertarian StudiesQuarterly Journal of Austrian Economics
Lucas M. Engelhardt is an associate professor of Economics at Kent State University's Stark Campus. His work is in macroeconomics, primarily in examining how various assumptions about capital affect business cycle models.
Okay, so I’ve been looking at the Mercatus numbers.
First, Think Progress IS wrong in their representation. (Think Progress makes the very simple error of acting like an ADDITION to cost is the WHOLE cost.)
HOWEVER, my initial impression was also wrong. My error was a bit...
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