Critical Reflections on Rothbard’s Concept of Gross Investment

Eduard Braun
This paper critiques Rothbard's ([1962] 2004) concept of gross investment. Rothbard introduced the concept in order to demonstrate his point that it is not consumer spending that primarily drives the economy, like the mainstream Keynesian view maintains, but the capitalists' spending. In this paper, it is argued that, contrary to Rothbard's opinion, the amount of gross investment as he defines it does not contain significant information concerning the question as to whether the capital structure...
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