Recalculation Story

After writing about all the component pieces at different times, Arnold Kling has finally written a comprehensive overview of his Recalculation Story, explaining what has happened to the economy. This has a very Austrian tone to it, relying on some simple observations and logic. For my money, it offers a much more compelling truth than that offered by conventional macroeconomics. I can easily see it as adjunct to the Austrian Business Cycle theory. It merits reading.

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