An EPJ reader has emailed to call me to task for implying in the post that Cowen is an Austrian economist. That was not my intention. My thinking was that Allison's book was so confused that almost any economist should have found fault with it, including the non-Austrian school economist, Tyler Cowen.
That said, please allow me to establish my bonafides as one who recognizes that Cowen is not an Austrian economist. See here and here.
For a masterful analysis of the failures of Cowen to properly understand Austrian economics, see:
Barnett, William II and Walter E. Block. 2006. "Tyler Cowen on Austrian
Business Cycle Theory: A Critique." New Perspectives on Political
Economy, Vol. 2, No. 2, pp. 26-84;
http://pcpe.libinst.cz/nppe/2_
http://pcpe.libinst.cz/nppe/
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