Business Cycles

From the session on “Studies in Business Cycles,” presented at the Austrian Economics Research Conference.

A few more banking crises will likely cause confidence in the fractional-reserve banking system to evaporate.

The ultimate responsibility for the poker boom lay with the Federal Reserve.

Only Austrians can explain why massive central bank money printing hasn't resulted in higher prices.

The Austrian theory rests on changes in relative prices that cause resources to be allocated in ultimately unsustainable ways.

This psychological phenomenon is the “irrational” response of people living in a bubble economy.

While business scandals often lead to calls for more regulation, in so many recent scandals, regulators have been among the chief culprits.

A business-hostile administration will provoke more apprehension than a business-friendlier administration.

This book contains the oddest sentence I have ever read about the current financial crisis, or for that matter about any financial crisis.

Bank credit expansion sets into motion the business cycle in all its phases.