Business Cycles

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.

An Austrian and a Keynesian spar on business cycle theory. 

How a Keynesian came to wildly distort the Austrian theory. 

With huge segments of the world economy mired in depression, can we conclude that capitalism has failed or that the market behaves irrationally? That seems to be the consensus among many commentators, so we hear a wide range of calls for government intervention to patch things up.

Ed Shanahan on the significance of the Austrian tradition. 

An Austrian explains why Japan cannot shake off its dreadful recession. 

 Milton Friedman attacks Austrian economics in Barron's, Two responses.

When the IMF declares a country an "economic miracle," look out. A financial crisis cannot be far behind.

President Roosevelt ran against government spending and deficits, but once in office acted like a dictator.

Roosevelt overthrew the traditional limits on government's role and instituted central planning and welfarism in every sector of the economy.