Boom, Bust, Bailout, repeat. The only problem with this, as someone pointed out on Facebook, is that the cycle can’t continue forever, so the depiction is sliiightly inaccurate. Hat tip to Brenden P. Boudreau.
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Tag: Austrian Business Cycle
At least, a substantial majority of them do. I wonder whether these Keynesians will become a bit curious once their prognosis is again proven wrong. That is, curious about the theories that those who saw this mess coming subscribe to.
Robert Murphy addresses Australian economist John Quiggin’s recent critique of the Austrian theory of the business cycle on the Mises Daily blog, explaining the problems with the objections coming from Quiggin, who writes: To sum up, although the Austrian School was at the forefront of business cycle theory in the 1920s, it hasn’t developed in …
Several days ago I reposted one of Tom Woods’s articles from LewRockwell.com and mentioned that I rather wished he would address older financial crises like the various Panics of the 1800s (mainly because I never know what to say about them when people with whom I’m attempting to argue economics bring them up). As I …