An Approach to the Theory of the Economic Cycle And The Capital of F.A. Hayek

Abstract

In this article we will analyze the theory of the economic cycle and capital in the work of the Austrian economist F.A. Hayek. To do this, we will appeal to a documentary and bibliographic review that will help to present the most outstanding features of his reflections. In the conclusions it is revealed that the unleashing of the Hayekian economic cycle has two causes: 1. A change in the amount of money and bank credit; and, 2. A fluctuation in voluntary savings. Both alter the intertemporal structure of the production of consumer goods and capital.