La gran controversia sobre el capital: re-switching, economía austriaca y el mal uso de las matemáticas
DOI:
https://doi.org/10.52195/pm.v16i1.42Abstract
In this article we argue that re-switching was exclusively a mathemat- ical problem and not an economic one. The solution to the re-switching mathe- matical problem is not even a complex one. The economists started to “play” with mathematics without realizing that they were committing serious mistakes in that field. Austrian economists barely participate in the debate despite being better suited to criticize the Neo-classical capital theory. Austrian economists could have also pointed out better than other economists that re-switching was never an economic problem, but a mathematical one. Unfortunately, the capital controversy of the 60s was happening at the same time that Austrian econom- ics was suffering its own particular “depression”.
Palabras clave: Re-switching; teoría capital; expectativas; tipo descuento; dura- ción Macaulay
Key words: Re-switching; capital theory; expectations; discount rate; Macaulay duration
Clasificación JEL B13, B53, D24, E14 JEL Classification B13, B53, D24, E14
Resumen: En este artículo argumentamos que el re-switching fue un problema exclusivamente matemático y nunca un problema económico real. La solución al problema del re-switching es matemática y ni siquiera es una solución muy complicada. Los economistas se pusieron a hacer matemáticas, aparentemente elevadas, sin darse cuenta de que estaban cometiendo graves errores en ese campo. Los economistas austriacos apenas participaron en el debate a pesar de que eran los que estaban mejor situados para, por un lado hacer una crítica mucho más certera a la teoría neoclásica del capital, y por otro lado demostrar que el problema del re-switching no es un problema económico. Sin embargo, la gran controversia sobre el capital se da en los años 60s, cuando la Escuela Austriaca de economía estaba pasando por su particular depresión.
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