�Austerian� economics: : Does the Vienna school favor fiscal deficit reduction even in a subpar economy?

• Autores: Lawrence H. White
• Localización: Review of Austrian Economics, ISSN-e 1573-7128, Vol. 27, Nº. 4, 2014, págs. 351-358
• Idioma: inglés
• DOI: 10.1007/s11138-014-0278-4
• Texto completo no disponible (Saber más ...)
• Resumen

  • Does the economic analysis associated with the modern Austrian school favor a policy of restraining the government�s fiscal deficit even in a subpar economy, as suggested by those who (pejoratively) label such a policy �austerian�? Because resources are not superabundant even in a subpar economy, the answer is yes, unless (implausibly) the return on the last (lowest-payoff) dollar of government expenditure exceeds the return on private investment.