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Home | Mises Library | Austrian Business Cycle Theory, Keynes's General Theory, Soaring Wheat Prices, and Subprime Mortgage Write-Downs

Austrian Business Cycle Theory, Keynes's General Theory, Soaring Wheat Prices, and Subprime Mortgage Write-Downs

  • The Quarterly Journal of Austrian Economics
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Tags Booms and BustsBusiness Cycles

07/30/2014G. R. Steele

Volume 11, No. 2 (2008)

 

Keynes's presentation of our rates of interest on wheat and housing is set within Austrian business cycle theory, to show that soaring wheat prices and subprime mortgage write-downs are expected, when a monetary authority holds interest rates too low for too long. From that basis, further interest rate cuts are an unlikely remedy for a recession whose roots lie in a proliferation of credit.

Cite This Article

G. R., Steele. "Austrian Business Cycle Theory, Keynes's General Theory, Soaring Wheat Prices, and Subprime Mortgage Write-Downs." The Quarterly Journal of Austrian Economics 11, No. 2 (2008): 119–122.

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