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.
The Austrians in the late 1920s and early '30s were like scientists trying to address witch doctors.
Supporters of Keynesian economics sometimes claim it to be a crude caricature of the Master that he thought the government has only to spend more money to get us out of a depression and that getting us into debt doesn't
What the government should do about the bust that follows the boom is maintain a strict hands-off policy.
Paul Krugman defends the cartoon version of Keynesianism that we are told is oversimplified.
A central bank confers no benefit on society at large.
There's plenty of blame for the financial crisis being spread around. Those on the left say Wall Street wasn't regulated enough, while those on the right claim government mandates required lenders to make bad loans.
