Os novos-clássicos e a teoria dos ciclos de hayek
By: SOROMENHO, Jorge Eduardo de Castro
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ArticlePublisher: São Paulo : Editora 34, jul./set. 1998Revista de Economia Política = Brazilian Journal of Political Economy 18, 3, p. 38-54Abstract: It has been recently discussed the similitude between new-classical business cycle theory and Hayek's works on economic fluctuations. In this article, we aim at rejecting the thesis of similitude. Firstly, we present the new-classical theory with emphasis both on Lucas's works and on microeconomics foundations. After that, we discuss the difficulty to characterize Hayek's thought and we present a reconstruction of his project on the theory of cycles. We intend to demonstrate that Hayek and new-classical theories have different conceptions on the modus operandi of capitalistic economies
It has been recently discussed the similitude between new-classical business cycle theory and Hayek's works on economic fluctuations. In this article, we aim at rejecting the thesis of similitude. Firstly, we present the new-classical theory with emphasis both on Lucas's works and on microeconomics foundations. After that, we discuss the difficulty to characterize Hayek's thought and we present a reconstruction of his project on the theory of cycles. We intend to demonstrate that Hayek and new-classical theories have different conceptions on the modus operandi of capitalistic economies
Revista de Economia Política 1998
v. 18, n. 3(71)
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