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 ...

The Circular Flow Diagram has dominated economic thought for over a century. Yet, all along we’ve known its shortcomings: over-aggregation, static capital, instantaneous production, and homogeneous ...

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 ...