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The Complete “Austrian School of Economics” Collection


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4,366 works (including 487 books, 3,476 articles and 400 historical documents), 150 years of economic thought. Each one summarized and searchable.

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61–61 of 61 matches · 4,366 works total (including 487 books, 3,476 articles and 400 historical documents)Page 6 of 6; every summary opens into its work.
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    Equilibrium Concept and Business Cycle Statistics

    Equilibrium Concept and Business Cycle Statistics

    Karl Pribram · 8 sections

    What does a business-cycle indicator measure when economists disagree about what counts as equilibrium? In this preliminary conference report, Karl Pribram argues that statistical comparability requires more than consistent measurement: it requires clarity about the theories built into economic terms. “Over-indebtedness,” “overproduction,” and “underconsumption” call for different indices according to the assumptions they express. Rather than demand agreement on a single cycle theory, Pribram examines how rival conceptions of balance shape the selection and interpretation of evidence. His scrutiny also reaches the geographical unit of analysis: national statistical boundaries do not necessarily delimit distinct economic cycles. The report offers a concrete way to recognize theoretical commitments in apparently neutral indicators—and to ask whether the units being measured fit the economic relationships under investigation.

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