Business Cycles

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Ludwig M. Lachmann

Published in Economica, November 1938.

Gene Callahan
It's been said that the Fed's job is to take away the punch bowl once the party gets going. But Gene Callahan writes the Fed had filled it in the first place.  
Arthur Middleton Hughes

Why do we have booms and recessions? This paper to explores the Austrian explanation of the business cycle and applies that theory to the recession of 1990-1992.