Skousen, M., ed., (1992). Dissent on Keynes: A Critical Appraisal of Keynesian Economics. New York and London: Praeger. Chapter 4 : The Myths of the Multiplier and the Accelerator, by Jeffrey M. Herbener The Accelerator While interest in the trade cycle stimulated development of the acceleration principle, it is fundamentally a theory about the use of capital goods in the production of consumption goods. Thus, before analyzing the accelerationist doctrine, a theory of production is briefly reviewed below (Rothbard [1962] 1970: 40-61, 273-308).
Debunking the Keynesian Accelerator Theory
Debunking the Keynesian Accelerator Theory
Debunking the Keynesian Accelerator Theory
Skousen, M., ed., (1992). Dissent on Keynes: A Critical Appraisal of Keynesian Economics. New York and London: Praeger. Chapter 4 : The Myths of the Multiplier and the Accelerator, by Jeffrey M. Herbener The Accelerator While interest in the trade cycle stimulated development of the acceleration principle, it is fundamentally a theory about the use of capital goods in the production of consumption goods. Thus, before analyzing the accelerationist doctrine, a theory of production is briefly reviewed below (Rothbard [1962] 1970: 40-61, 273-308).