Most of the readers of this blog are UK-based non academics. But everyone interested in macroeconomics from an Austrian perspective should be aware of some fantastic new work, seeking to bridge Hayek's insights with the literature on corporate finance. In 2011 I organised a talk by Joel Stern in London - I teach Economic Value Added (EVA) in my classes, and feature it in my forthcoming textbook. But I've not sought to introduce it into my research.
One of the very best books on capital theory is Capital in Disequilibrium, by Peter Lewin. And one of the most productive members of an emerging band of youthful Austrians is Nicholas Cachanosky. So it's really exciting to see the outcome of their collaborations. In particular:
- A Financial Framework for Understanding Macroeconomic Cycles: The Time Structure of Production is Relevant
- Roundaboutness Is Not a Mysterious Concept: A Financial Application to Capital Theory