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Steve Keen on Austrian Economics

Steve Keen gives an interesting lecture below on the Austrian school of economics.[embedded content]Some critical points: (1) it is an oversimplification to say that Austrians do not support equilibrium as the essential feature of a capitalist economy (see 2.20 onwards), though admittedly there is some balance in this point later on. In fact, it is really only the stream of Austrian economics connected with Ludwig Lachmann that questions whether a tendency to general equilibrium is a feature...

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