Capitalism Macroeconomics Lecture 7

Update: 2020-10-07

Description

The role of saving in spending and income payments. Saving versus hoarding. Saving and aggregate economic accounting: the national income/net national product identity. J. S. Mill’s proposition that demand for commodities is not demand for labor and the issue of double counting.

READINGS

Reisman: pp. 673–699, review of 441–447, then 699–715

Hazlitt: pp. 177-190 (chap. XXIV)

Samuelson: Chapter 5; Optional: Samuelson, Chapter 11

Ludwig von Mises, “Capital Supply and American Prosperity” in Supplementary Readings in Macroeconomics.

[Ludwig von Mises, Planning for Freedom, pp. 195–214]

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Capitalism Macroeconomics Lecture 7

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Capitalism Macroeconomics Lecture 7

George Reisman

Capitalism Macroeconomics Lecture 7