Booms and busts are not endemic to the free market, argues the Austrian theory of the business cycle, but come about through manipulation of money and credit by central banks. In this monograph, Austrian giants explain and defend the theory against alternatives. Includes essays by Mises, Rothbard, Haberler, and Hayek. In his later years, Professor Haberler distributed many of these monographs to friends and associates.
This edition includes an introduction by Roger Garrison.
Dr. Richard M. Ebeling is a professor of economics at The Citadel. Among the courses he has taught are “Market Ethics in Modern Society” and “The Economics of Conflict.”
Richard M. Ebeling recalls the world of 1952, when socialism seemed ascendant everywhere, summarizes Marx’s system of historical materialism and class struggle, and introduces Mises as one of its most formidable critics.
In the wilderness of the New World, the Plymouth Pilgrims had progressed from the false dream of communism to the sound realism of capitalism.
Biden's spending plan is presumed to be costless, because it will not increase the national debt and since it will be paid for by imposing $2.1 trillion of higher taxes on those designated as "rich."
Center for Libertarian Studies, 1978. Mises Institute 1996, with introduction and summary by Roger Garrison.
