The Austrian Theory of the Trade Cycle

The monetary explanation of the trade cycle is not entirely new. "The 'Austrian' Theory of the Trade Cycle," by Ludwig von Mises, is narrated by Gennady Stolyarov II.

Murray Rothbard was the master of reducing complicated theories to their very essence while retaining theoretical rigor, and this essay on Austrian business cycle theory is a case in point. Its continued relevance speaks to an aspect of the Austrian theory that other theories can't boast. It is a...