Theory Meets Praxis: The Austrian Business Cycle Theory in Today’s Economy
Sean Corrigan presents The Henry Hazlitt Memorial Lecture at the 2004 Austrian Scholars Conference.
Includes Question and Answer period.
Sean Corrigan presents The Henry Hazlitt Memorial Lecture at the 2004 Austrian Scholars Conference.
Includes Question and Answer period.
Steeped in American history and Austrian economics, this extraordinary film is the clearest, most compelling explanation ever offered of the Fed, and why curbing it must be our first priority.
One of the most difficult things to understand about banking is how money is created out of thin air. Current commercial bank liabilities are immediate. The banks do not have the reserves to redeem all demand notes. Thus, banks are inherently insolvent. But, government has eliminated runs on banks. Banks are not allowed to fail when they are mismanaged.