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 ...

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 ...

Patinkin, D. (1973). 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: ...