eSEMINAR: Garrison on "Boom and Bust in a Hayekian Framework"

[Greg Ransom <gregbransom@xxxxxxxx>]

On-line Seminar  --  the Hayek-L Email List

Roger Garrison on _Time and Money:
The Macroeconomics of Capital Structure_

May 5 - May 14

"Boom and Bust in a Hayekian Framework"

Roger Garrison will be hosting a seminar on his recent book
_Time and Money: The Macroeconomics of Capital Structure_ between
Saturday May 5 and Monday May 14 on the Hayek-L email list.

_Time and Money: The Macroeconomics of Capital Structure_

TABLE OF CONTENTS:

Part I
1: The Macroeconomics of Capital Structure
2: An Agenda for Macroeconomics

Part II
3: Capital-based Macroeconomics
4: Sustainable and Unsustainable Growth
5: Fiscal and Regulatory Issues
6: Risk, Debt and Bubbles: Variation on a Theme

Part III
7: Labour-based Macroeconomics
8: Cyclical Unemployment and Policy Prescription
9: Secular Unemployment and Social Reform

Part IV
10: Boom and Bust in the Monetarists Vision
11: Monetary Disequilibrium Theory

Part V
12: Macroeconomics: Taxonomy and Perspective

>From the publisher:

"It is increasingly recognized that the weakness in modern
macroeconomics theorizing is the lack of any real coupling
of short- and long-run aspects of the market process. In
the short run, the investment and consumption magnitudes
move in the same direction, either both downward into
recession or both upward toward full employment and even
beyond in an inflationary spiral. But for a given period
and with a given technology, any change in the economy's
growth rate must entail consumption and investment magnitudes
that move, initially, in opposition to one another.

Roger Garrison claims that modern Austrian macroeconomics,
which builds on the early writings of F.A. Hayek, can be
comprehended as an effort to reinstate the capital-theory
core that allows for a real coupling of short- and long-run
perspectives. Although the macroeconomic relationships
identified are largely complementary to the relationships
that have dominated the thinking of macroeconomists for the
past half century, _Time and Money_ presents a fundamental
challenge to modern theorists and practitioners who overdraw
the short-run/long-run distinction. The primary focus of
this text is the intertemporal structure of capital and the
associated set of issues that have long been neglected in
the more conventional labor- and money-based macroeconomics.
This volume puts forth a persuasive argument that the
troubles that characterize modern capital-intensive economies,
particularly the episodes of boom and bust, may best be
analyzed with the aid of a capital-based macroeconomics."

Garrison's book _Time and Money- is available on the web at:

http://www.laissezfairebooks.com/product.cfm?op=view&pid=EC8210&aid=10097

Roger Garrrison is Professor of Economics at Auburn University.

Roger Garrison's address is:

Roger Garrison
Department of Economics
Auburn University
Auburn, Alabama 36849 USA
rgarrisn@xxxxxxxxxxxxxxxxxxx

Garrison's web site is at:

 http://www.auburn.edu/~garriro/

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Greg Ransom
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