Business Cycles

This lecture by Roger Garrison was presented at the 2012 Mises University in Auburn, Alabama. Includes an introduction by Mark Thornton.

In “The Theory of Money and Credit”, Mises provided the basics for the long-sought explanation for that mysterious and troubling econom

Jeff Deist and David Howden discuss the history of banking in America before 1913 and the entanglements of the Federal Reserve.

There is trouble lurking in each of the book’s four chapters. The text gets off on a wrong foot as Bernanke overviews the origins and purposes of the Fed.

This paper identifies merger waves as parts of Austrian-type business cycles. According to Austrian business cycle theory, when loan rates are reduced below their natural level through bank credit expansion, this falsifies the monetary calculation of capitalist-entrepreneurs, and investments are initiated that calculation showed were not profitable before the interest rate reduction.

Ludwig von Mises Memorial Lecture from the 2014 Austrian Economics Research Conference presented by J. Huston McCulloch. Ludwig von Mises’s writings contain many insights that are very relevant for mainstream macroeconomics.

In this article, the prime concepts are based on the Mises-Hayek theory of the business cycle.  Using this model as the general framework for analysis, additions and modifications are introduced reflecting theoretical advances and current problems

 According to this writer Garrison’s Time and Money is precisely what it purports to be: an exercise in comparative frameworks. Even if it should be recognized that the comparison

ABC theory is founded on the concept of a sustainable, market-determined interest rate, and predicts negative consequences when that equilibrium is persistently disturbed. 

Ludwig von Mises established the foundations of modem Austrian economics while Irving Fisher established the foundations of modem mainstream macroeconomics and central bank policy.