Keynesian orthodoxy claims government can successfully counter recession through "expansionary" policies. To the contrary, these policies increase the danger to the economy.
For nearly a hundred years, economists have been groping for an explanation for the business cycle, writes Murray Rothbard, while overlooking the Austrian explanation.
Long-standing policy advice based on Austrian business cycle theory would be useful in responding to Keynesian supply shocks—aggregate supply shocks that lead to even larger aggregate demand shocks.
Abstract: This paper endeavors to develop a modern theoretical underpinning of Friedrich August von Hayek’s business-cycle theory
In this interview with Jeff Deist, Dr. Murphy gives us a succinct lesson in the history of money, business cycle theory, and on the origins of monetary inflation.
Lawrence Summers claims that excess savings and feeble investment led to secular stagnation in advanced economies. But Austrian business cycle theory offers a better explanation.
Böhm-Bawerks was a brilliant economist, and we must also remember his example as a principled man of uncompromising integrity who in the political arena unswervingly fought for freedom and free markets.
Larry Sechrest provides a concise (4000-word) explanation of the concepts of malinvestment and overinvestment and how they help us understand economic depressions and the boom-bust cycle.
Vijay Boyapati explains why other Austrians should have listened to him in 2010 when he warned that their inflation predictions were wrong.
