Business Cycles

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.

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

I would like to emphasize two implications of my argument.  First, the concept of secular growth as an uncaused phenomenon contradicts the Mengerian method of analyzing 

The skyscraper index, created by economist Andrew Lawrence shows a correlation between the construction of the world’s tallest building and the business cycle.

The Austrian theory mainly deals with analyzing the effects of an increased credit offer on productive structures.

Most historians claim that Herbert Hoover adhered to a policy of laissez faire after the stock market crash of 1929. This laissez faire policy is allegedly responsible for the severity and persistence of unemployment