The circular-flow approach is decidedly Neoclassical, and suffers from many problems which traditional Austrians would notice. The circular-flow diagram’s greatest problem is, in fact, its circularity ...

In Search of the “Wheel of Wealth”: On the Origins of Frank Knight’s Circular-Flow Diagram. The American Economic Review, 63, 1037-1046. has been cited by the following article: TITLE: Insights from ...

As a precursor of Keynes and the circular flow diagram, Quesnay’s Tableau — first published in 1758 — was inclusive of some of the worst concepts used, as Rothbard notes, in twentieth century ...

To put it plainly, we need one another. The economy is interrelated — as captured by the circular flow diagram, a core economic model. We need businesses. Businesses create jobs for households ...