Business Cycles

In this article we have shown that causality cannot be established by statistical means without a coherent definition of what money is and how it is related to the prices of financial assets. Contrary to various experts who dismiss the importance of money in driving the stock prices, we have shown that this dismissal is based on a wrongheaded framework of thinking.

Roger Garrison calls our attention to this fascinating post

From the book For A New Liberty: The Libertarian Manifesto, as narrated by Jeff Riggenbach.

Published in Economica, November 1938.

Published in Economica, May 1940.

Loan banking is non-inflationary. Interest rates on loans are merely reflective of price spreads. All speculation, on the free-market, is self-correcting and speeds adjustment, rather than cause economic trouble.

Recorded at Mises University 2005.

Recorded at Mises University 2005.

Recorded at Mises University 2005.