Business Cycles

Rothbard (1963) provides a compelling explanation of the Great Depression. He used the Austrian business cycle theory to show that the inflationary policies of the Federal Reserve

The 2007–2008 financial crisis, accompanying recession, and continuing slow recovery have reinvigorated crude Keynesianism as the foundation of a "somebody in charge" policy to combat recession and high unemployment.

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. 

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 has some common ground with Austrian economics, but there is substantial disagreement regarding the analysis of business 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

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