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Austrian Capital Theory and Dynamic Analysis ofSchumpeter vs. Hayek

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dc.contributor.authorHong, Keehyun-
dc.date.accessioned2009-01-16-
dc.date.available2009-01-16-
dc.date.issued1992-04-
dc.identifier.citationSeoul Journal of Economics, Vol.5 No.2, pp. 167-192-
dc.identifier.issn1225-0279-
dc.identifier.urihttps://hdl.handle.net/10371/951-
dc.description.abstractFollowing the Austrian approach, both Schumpeter and Hayek view capital as advance. However, Schumpeter is more interested in the equilibrium breaking process due to technical innovation, whereas Hayek concerns about the equilibrating process toward stationary state. Schumpeter avoids applying the dynamic analysis in the usual sense to capitalist development, which is basically unstable. On the other hand, Hayek tries not only to analyze the adjustment process but also to refine the intertemporal equilibrium concept.-
dc.language.isoen-
dc.publisherInstitute of Economic Research, Seoul National University-
dc.subjectthe theory of economic development-
dc.subjectthe circular flow-
dc.subjectthe pure theory of capital-
dc.titleAustrian Capital Theory and Dynamic Analysis ofSchumpeter vs. Hayek-
dc.typeSNU Journal-
dc.contributor.AlternativeAuthor홍기현-
dc.citation.journaltitleSeoul Journal of Economics-
dc.citation.endpage192-
dc.citation.number2-
dc.citation.pages167-192-
dc.citation.startpage167-
dc.citation.volume5-
Appears in Collections:
College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of Economics (SJE)Seoul Journal of Economics vol.05(2) (Summer 1992)
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