Roger W. Garrison

Roger Garrison, professor emeritus of economics at Auburn University and Associated Scholar of the Mises Institute, is the author of Time and Money: The Macroeconomics of Capital Structure

Roger W. Garrison's Articles

Mainstream Macro in an Austrian Nutshell

While the events that have unfolded over the past year have required some outside-the-box theorizing by mainstream macroeconomists, the econo-mists of the Austrian school can offer a straightforward, fill-in-the-blanks explanation by drawing on the theory first articulated by Ludwig von Mises and then developed by Friedrich A. Hayek.

- April 24, 2009

The Trouble with Keynes

Keynesian theory implies an inherent instability in market economies. Thus the theory cannot possibly explain how a healthy market economy functions—how the market process allows one kind of activity to be traded off against the other.

- April 01, 2009

The Greenspan Fed in Perspective

Some readers of the Wall Street Journal might have been led to believe that Alan Greenspan had somehow followed Milton Friedman's monetary rule. We now see, though, that there was no well-grounded rule; there was no standard.

- June 01, 2006

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