Mises Daily
Author:
Robert Blumen
Online Publish Date:
Chronic underconsumption is an idea most often associated with Keynes. But while the infamous English economist published his General Theory in 1936, Hayek’s 1929 article “The ‘Paradox’ of Savings” analyzes a similar theory advanced by two Americans a decade before. [1] While the two authors have nearly vanished from history, the insights