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Sunday, June 28, 2009

Laughing at myself


This is the graphic representation of that Limits of Demand concept that I was considering as a more broadly explanatory substitute for the middle step in Austrian malinvestment theory, which presently relies upon the shift from consumer goods to capital goods. After I drew it, I realized that it looked extremely familiar.

And frankly, you kind of let me down, AGDers. Extra credit in Voxiversity III for the AGDer who can identify the very similar chart. And additional extra credit for anyone who can explain why Rothbard limited his application of the concept as he did when it offers a better explanation for malinvestment than the shifting investment dynamic between consumer and capital goods, which the Limits of Demand also explains.

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