1. His model was considerably more highly aggregated than that of, say, Lawrence Klein's "Old Keynesian" models.
2. The guy seems to agree that one difference between Austrians and "Anglo-Americans" is that Austrians do not think consumption and investment demand move in the same direction over the business cycle. Mises disagreed with this. I know a lot of modern Austrians will foam at the mouth if you suggest this. But I don't think many people appreciate that Hayek thought this (at least as of 1941). They find it much easier to accuse their accusers of being idiots.
The rule of law and religion
9 hours ago