ABSTRACT
Lachmann has sometimes been called an ‘Austro-Keynesian’. In Chapter 9, Peter Boettke and Steven Sullivan ask if such a position can be maintained consistently. Can one advocate radical subjectivism in economic method and Keynesian interventions in economic policy? Drawing, in part, on Lachmann’s 1935 MSc thesis, ‘Capital Structure and Depression’, they show that such a position was adopted by Lachmann. They argue, however, that a non-interventionist policy preference is more consistent with radical subjectivism.
