A critique of definitions in economics from an Austrian perspective: macroeconomics

Abstract

Purpose

The purpose of this paper is to clarify definitions in economics.

Design/methodology/approach

To apply the insights of Austrian economics to terms widely used in the profession.

Findings

The authors find that the Austrian approach brings clarification to communication.

Originality/value

The authors know of no other such attempt. Therefore this paper presumably has some originality.

Citation

Davidson, L. and Block, W.E. (2016), "A critique of definitions in economics from an Austrian perspective: macroeconomics", Journal of Economic and Administrative Sciences, Vol. 32 No. 1, pp. 2-19. https://doi.org/10.1108/JEAS-08-2015-0028