Garrison and Hicks

Roger Garrison is the John Hicks of the Austrian School. In his renowned Time and Money, he expounds Hayek's conjuncture theory in a way easy to understand by means of a graphic analysis which to a large extent is a personal interpretation who puts Hayek theory to a Procrustean bed in as very the same fashion as John Hicks aspires to be Keynes's oracle in his Mr. Keynes and the "Classics"; A Suggested Interpretation.

No wonder that professor Garrison's work has be so widely accepted among Austrians. It says like "hey, you can be popular too, you can have graphs and even the promise of a mathematical model in the fashion of an equations' system and join your Keynesian macroeconomic buddies in their own playground".

In this context, it's good to remember the standard critique to Hicks: he could be mis-interpreting Keynes. Is Garrison mis-interpreting Hayek? Are we accepting more academic palatability in exchange for sacrificing the venerable methodology tuned up by Mises?

On the hardship of studying economics

Economics is not for pussies.