1. Exactly why are so many Austrians so convinced Keynes botched Wicksell? I hear this all the time, but I don't know if I've ever heard why. I'm not sure they even know why I say this. The best explanation I can get isn't from any modern Austrian, but from Hayek himself who talked about how concepts of saving weren't exactly consistent between them. This is something I thought Keynes noted explicitly, so I'm not sure this amounts to him "not understanding" him. Am I missing something?
2. It will feel like we've been over this before, but why would it be wrong (or wouldn't it be wrong?) to look at employment fluctuations in more and less roundabout industries as a test of ABCT?
3. How do Austrians think about the yield spread as a predictor of recessions? For me, it seems to highlight changing subjective expectations of future profit opportunities, so it seems to have an obvious Keynesian interpretation. It's less obvious to me how Hayek especially would think about it, because he didn't talk about short and long term rates as much as Keynes did that I know of.
Comparative advantage: a partial truth
2 hours ago