Economic Models
by Zane Rockenbaugh
1. Monetarist
1.1. no theory of capital / weakest on capital theory
1.2. belief in markets
1.3. government has serious role
1.4. aggregate / macro
1.5. more or less accept MV=PT
1.5.1. fix recession by increasing M to spur on additional spending
2. Austrian
2.1. strongest belief in markets
2.2. government is, at best, a 0 sum
2.3. capital capital capital!
2.4. everything is micro
2.5. discount the pain of dislocation and re-adjustment
3. Keynsian
3.1. government can play critical role
3.2. aggregate / macro
3.3. macro markets are moved by the animal spirits
3.4. more or less accept MV=PT
3.4.1. fix recession by increasing T to offset psychological impact of falling transactions