A Reconsideration of the Austrian Theory of Industrial Fluctuations
Published in Economica, May 1940.
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.
This paper examines what Austrian economists think about deflation and offers a critique of their views. This seems to be of particular importance because Austrians differ in their opinions about deflation,
1997. in David Glasner, ed., Business Cycles and Depressions: An Encycl