Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments April 24, 2014 erstellt
Description:
In his recent article, Edward W. Fuller (2013) compared the Keynesian Marginal Efficiency of Capital approach with the Austrian Net Present Value approach. While his article has some important insights regarding the different treatments of investment projects in these two approaches, the result that the two approaches result in different rankings will only hold if factor prices are held constant. But, as the paper states, such an assumption is generally not true. Taking this in mind allows us to highlight two important differences between Keynesian and Austrian views: "idle" resources and "sticky" prices