Tyler Cowen (2008): Keynes’s General Theory, chapter four, The Choice of Units: “This chapter may seem cryptic but… …the key is the tiny footnote to Hayek; this chapter is Keynes obsessing over capital theory and the Austrians. Hayek argued that an economic downturn should be understood as a discombobulation of the capital structure and here … Continue reading Afternoon Must-Read: Tyler Cowen (2008): Keynes’s General Theory, Chapter Four, *The Choice of Units*