The Great Depression: Mises vs. Fisher
Ludwig von Mises established the foundations of modem Austrian economics while Irving Fisher established the foundations of modem mainstream macroeconomics and central bank policy.
Business Cycles
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Sylos Labini’s Unpublished Notes on Schumpeter’s Business Cycles
Paolo Sylos Labini (1920–2005) was the one of the most influential economists in Italy after the Second World War. After graduating in 1942, Sylos Labini won a fellowship in the USA.
Monetary Disequilibrium Theory and Business Cycles: An Austrian Critique
Monetary disequilibrium theory has some common ground with Austrian economics, but there is substantial disagreement regarding the analysis of business cycles.
Toward a General Theory of Error Cycles
The purpose of this article is threefold. First, we challenge Mises's theory by arguing that it is not generally and apodictically valid. Therefore, it cannot be part of economic theory which
Capital-Based Macroeconomics: Recent Developments and Extensions of Austrian Business Cycle Theory
Professor Garrison’s work in Austrian macroeconomics over the past twenty-plus years has been most influential. Time and Money and its detailed development of a capital-based macroeconomics
Capital, Monetary Calculation, and the Trade Cycle
The Austrian theory of the business or trade cycle is an intricate blend of monetary theory and capital theory. Mises’s (and Hayek’s) monetary and capital theories differ in both significant
Review of When Washington Shut Down Wall Street: The Great Financial Crisis of 1914 and the Origins of America’s Monetary Supremacy. by William L. Silber
At the beginning of World War I, the US Treasury secretary closed the New York Stock Exchange to stop the sale of dollar-denominated securities.
The Poverty of Modern Macroeconomic Theory and Power of Austrian Business Cycle Theory
This paper contrasts mainstream analysis of the recent boom/bust episode and its massive interventions with Austrian business cycle theory (ABCT).
Hayek and the 21st Century Boom-Bust and Recession-Recovery
Hayek’s writings on business cycle theory; the seminal work of the 1930s and 1940s and the modifications he made in the 1970s after he received the Nobel Prize,
Review of The Hayek-Keynes Debate: Lessons for Current Business Cycle Research, by John P. Cochran and Fred R. Glahe
The book brings together sources that to some Austrians may appear hardly compatible, if not inconsistent. Insiders know that there are some significant differences between the views of, say, Mises, Hayek, and Lachman
