One of the distinguishing features of the Austrian school of economics is that it takes time seriously. Much mainstream economics could be described as taking place on an atemporal pin-tip. Because Austrian economists view the economy as an unfolding process, time is necessarily central to their theorizing. I would add to this that as the saying goes, Time is money and the Austrians because they understand time preference, understand money better than anyone else. -- CH
Posted on: Sat, 05 Jul 2014 01:59:38 +0000