Stationary economy

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Stationary economy is the imaginary construction of an economy in which the per capita income and wealth remain unchanged. In such an economy total profits would be precisely equal to total losses. It is only in such an unreal and imaginary economy that the equations of "mathematical economists" would have any validity.[1]

References

  1. Percy L. Greaves, Jr. "Mises Made Easier ", 1974. Referenced 2014-08-23.