Business Cycles

President Bush stands accused of using his supposedly superhuman powers to drive us into recession. William Anderson wonders whether he will also be accused of casting spells to bring down the Dow.

Pundits often blame tight money for economic downturns. But what about the loose money policies that created the unsustainable boom in the first place? John Cochran explains.

There is no “new economy” any more than the “New Economics” of the 1960s had solved the problems of the business cycle, as its promoters had claimed. Bill Anderson explains why.

What causes an economic downturn? The business press keeps getting it painfully wrong, writes Llewellyn H. Rockwell, Jr.

By Gene Callahan, the clearest explanation you may ever read of the Austrian Business Cycle Theory.
 

The president of the United States was ecstatic. Never had economic prospects in this country looked better. Unemployment was at its lowest level in years, the rate of inflation was relatively low, and the economy had grown continuously for almost eight years. No doubt, said the experts, this country was in the midst of a New Economy.

Central banks are papering over problems, says Austrian School financial analyst Frank Shostak.

Paul Krugman is an eminent economist, but he here reveals a woefully inadequate understanding of Austrian business cycle theory. The rudiments of the theory are easy one might have thought that even a Keynesian could grasp them.

How a Keynesian came to wildly distort the Austrian theory. 

An Austrian and a Keynesian spar on business cycle theory.