Quarterly Journal of Austrian Economics
Austrian Business Cycle Theory, Keynes's General Theory, Soaring Wheat Prices, and Subprime Mortgage Write-Downs
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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.
