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
Business Cycles
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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
Does the Concept of Secular Growth Have a Place in Capital-Based Macroeconomics?
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
Skyscrapers and Business Cycles
The skyscraper index, created by economist Andrew Lawrence shows a correlation between the construction of the world’s tallest building and the business cycle.
European Business Fluctuations in the Austrian Framework
The Austrian theory mainly deals with analyzing the effects of an increased credit offer on productive structures.
Industrial Employment and the Policies of Herbert C. Hoover
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
A Reformulation of Austrian Business Cycle Theory in Light of the Financial Crisis
The financial crisis and the events leading up to it have sparked a remarkable renewal of interest in Austrian Business Cycle Theory (ABCT).
