Roundaboutness: Difference between revisions
Jump to navigation
Jump to search
Content deleted Content added
No edit summary |
No edit summary |
||
| Line 1: | Line 1: | ||
'''Rounaboutness''', or ''roundabout methods of production'' is the term used to describe the process whereby capital goods are produced first and then, with the help of the capital goods, the desired consumer goods are produced. |
'''Rounaboutness''', or ''roundabout methods of production'' is the term used to describe the process whereby capital goods are produced first and then, with the help of the capital goods, the desired consumer goods are produced. |
||
The term was devised by the [[Austrian School]] economist, [[Eugen von Boehm-Bawerk]] |
The term was devised by the [[Austrian School]] economist, [[Eugen von Boehm-Bawerk]] who maintained that it was consumer demand, and not necesarily the supply of savings that would determine the capital investment in any industry. |
||
Revision as of 19:32, 3 August 2003
Rounaboutness, or roundabout methods of production is the term used to describe the process whereby capital goods are produced first and then, with the help of the capital goods, the desired consumer goods are produced.
The term was devised by the Austrian School economist, Eugen von Boehm-Bawerk who maintained that it was consumer demand, and not necesarily the supply of savings that would determine the capital investment in any industry.