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On-line Seminar  --  the Hayek-L Email List 
 
Roger Garrison on _Time and Money: 
The Macroeconomics of Capital Structure_ 
 
May 5 - May 14 
 
"Boom and Bust in a Hayekian Framework" 
 
Roger Garrison will be hosting a seminar on his recent book _Time and 
Money: The Macroeconomics of Capital Structure_ between Saturday May 5 and 
Monday May 14 on the Hayek-L email list. 
 
_Time and Money: The Macroeconomics of Capital Structure_ 
 
TABLE OF CONTENTS: 
 
Part I 
1: The Macroeconomics of Capital Structure 
2: An Agenda for Macroeconomics 
 
Part II 
3: Capital-based Macroeconomics 
4: Sustainable and Unsustainable Growth 
5: Fiscal and Regulatory Issues 
6: Risk, Debt and Bubbles: Variation on a Theme 
 
Part III 
7: Labour-based Macroeconomics 
8: Cyclical Unemployment and Policy Prescription 
9: Secular Unemployment and Social Reform 
 
Part IV 
10: Boom and Bust in the Monetarists Vision 
11: Monetary Disequilibrium Theory 
 
Part V 
12: Macroeconomics: Taxonomy and Perspective 
 
>From the publisher: 
 
"It is increasingly recognized that the weakness in modern macroeconomics 
theorizing is the lack of any real coupling of short- and long-run aspects 
of the market process. In the short run, the investment and consumption 
magnitudes 
move in the same direction, either both downward into recession or both 
upward toward full employment and even beyond in an inflationary spiral. 
But for a given period and with a given technology, any change in the 
economy's growth rate must entail consumption and investment magnitudes 
that move, initially, in opposition to one another. 
 
Roger Garrison claims that modern Austrian macroeconomics, which builds on 
the early writings of F.A. Hayek, can be comprehended as an effort to 
reinstate the capital-theory core that allows for a real coupling of short- 
and long-run 
perspectives. Although the macroeconomic relationships identified are 
largely complementary to the relationships that have dominated the thinking 
of macroeconomists for the past half century, _Time and Money_ presents a 
fundamental challenge to modern theorists and practitioners who overdraw 
the short-run/long-run distinction. The primary focus of this text is the 
intertemporal structure of capital and the associated set of issues that 
have long been neglected in the more conventional labor- and money-based 
macroeconomics. This volume puts forth a persuasive argument that the 
troubles that characterize modern capital-intensive economies, particularly 
the episodes of boom and bust, may best be analyzed with the aid of a 
capital-based macroeconomics." 
 
Roger Garrrison is Professor of Economics at Auburn University. 
 
Roger Garrison's address is: 
 
Roger Garrison 
Department of Economics 
Auburn University 
Auburn, Alabama 36849 USA 
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Garrison's web site is at: 
 
 http://www.auburn.edu/~garriro/ 
 
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Hayek-L seminars can be found at the Hayek-L email list web page, on the 
web at: 
 
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Those who wish to participate in the seminar may subscribe to the Hayek-L 
email list thru the Hayek-L web site, or by sending the message: 
 
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If you have any questions about the Hayek-L list or the Garrison seminar, 
please send a message directly to: 
 
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Greg Ransom 
Hayek-L list owner 
 
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