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Business Cycle T-Shirt Forest Green Long-sleeve

Average Rating:
Econ-geek? This t-shirt compares Keynes and the Austrians.
List Price: $20.00
Price: $16.00


Mind-blowing shirt explains all things

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This is the super-duper uber-econ-geekiest t-shirt of all time. It compares Keynes and the Austrians, using graphs drawn from the work of Roger Garrison. The color is: green like a chalkboard. The phrase capital is heterogeneous appears inauspiciously on the front pocket. The graph is on the back, with a key and explanation.

What's exceptionally beautiful here - and, yes, you have to be pretty nerdy to get the beauty part - is the comparison of the preposterously simplified world of Keynes with the deep dynamism of the Austrian model. The Keynesian model appears as a false front that masks incredible complexity that resides deep within the capital structure.

The Austrian part shows a world with time and interest rates that do the work of coordinating complex production plans that are rooted in a profoundly heterogeneous capital stock. If you mess around with the interest rates - as the Fed does all the time - you introduce false signals that destabilize investment patterns.

The more you look at the graph, the more you realize that it accounts for the whole of the boom-bust cycle. We've got the business cycle theory on a t-shirt.

Should this not get the award for the geekiest or maybe the smartest t-shirt of all time? Is there even such an award?

If someone asks you the meaning, you could trap that person for an hour and explain it all. Or you could just say: it shows that the economy is too complicated for the boneheads at the Fed or in Congress to manage!

Obviously, this t-shirt is not for everyone. But it might be for you.

Gildan Ultra Cotton Heavy Weight, long-sleeve.

The phrase: Capital is Heterogeneous printed in white on left chest. The graph, explanation, and key are printed on the back.

The print reads: "In the foreground is the Keynesian fiction, in which consumption plus investment (plus government spending) equals output. In the back is the Austrian reality, in which a heterogeneous capital stock responds to changes in the interest rate by shifts in the time structure of production. Intervention in credit markets thus creates distortion that generate the business cycle. "


Average Rating:
(based on 15 reviews)

Showing 1 - 5 of 15 Reviews:

by Melissa
on 9/2/2011
from CT
Almost perfect...
Make it a short sleeve ladies t, and put the image on the front, and we're in business. Maybe the font can be changed. Austrian economics deserves better than comic sans. Love the graph... It really is beautiful. *nerd*
by Anthony
on 2/20/2011
from Racine
Great looking shirt
To the person asking, try this:

I've ordered this for my daughter and can't wait to see it. I'll likely get one for myself.
by Mart Grams
on 1/18/2011
from Wisconsin
Better than Power point
I wear the shirt during lectures on Keynesian fallacies. More shirts.....!!!
by SB
on 12/13/2010
from NSW
If you click the image it will expand the image to a readable size. You'll then notice 'the beef' is advised as "See Roger Garrison. 'Austrian Macroenomics: A Diagrammatical Exposition (Mises Institute 2010)". If that was too difficult to figure out, maybe this T-shirt isn't for you guys...
by Samuel Hora
on 12/9/2010
from Europe
Awesome, but the font destroys it
Awesome idea! Picture on back is fine, but the font killed it :(
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