LeatherMint on Nostr: It's not that they wouldn't use the concept at all. It's that they wouldn't give it a ...
It's not that they wouldn't use the concept at all. It's that they wouldn't give it a causal status.
"How would they explain changes in the economy that à keynesian would attribute to velocity"
The wouldn't attribute changes in the economy to the Velocity of money. They might use it to see a change but it stops there. It's different to say that the Velocity caused à change rather than it beign a reflection a change.
I don't think any austrian would disagree with the Statement that faster paiements made for a higher Velocity of money. There's just not much to extrapolate from there. The higher number of transactions is à is caused by a réduction of friction between economic actors.
"How would they explain changes in the economy that à keynesian would attribute to velocity"
The wouldn't attribute changes in the economy to the Velocity of money. They might use it to see a change but it stops there. It's different to say that the Velocity caused à change rather than it beign a reflection a change.
I don't think any austrian would disagree with the Statement that faster paiements made for a higher Velocity of money. There's just not much to extrapolate from there. The higher number of transactions is à is caused by a réduction of friction between economic actors.