3 ms·
Also most economists make assumptions of endless economic growth. Especially the Austrian Economists with their pure time preference theory implicitly assume en
by imtringued 4y ago
Also most economists make assumptions of endless economic growth. Especially the Austrian Economists with their pure time preference theory implicitly assume endless growth as pure time preference makes no sense in an economy that is stagnating or shrinking. Why would patience be rewarded in the future if the future will be worse?
A lot of the foundations of economics fall apart once you assume logistic growth.