The Skyscraper Curse: And How Austrian Economists Predicted Every Major Economic Crisis of the Last CenturyTags The FedBusiness CyclesMoney and Banking
In the wake of the financial crisis of 2008, the economics profession suffered a blow to what reputation it had. But unlike most of his colleagues, Mark Thornton was vindicated by 2008. Mark has been a voice of sanity at times when the wild interventions of the Federal Reserve have caused otherwise sensible people to lose their minds.
This collection serves the valuable purpose of defending the market economy against the conventional view that freedom has failed us and we need still more controls. We had plenty of rules and bureaucrats on the eve of the financial crisis. A lot of good that did us. Pretty much none of them saw any problems on the horizon.
Maybe we should consider a real free market, with sound money and market interest rates, and abolish the giant bubble machine once and for all. Read Mark Thornton and you’ll entertain this and other forbidden thoughts.
From the Foreword by Thomas E. Woods, Jr.
Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.
Cite This Article
Thornton, Mark, The Skyscraper Curse: And How Austrian Economists Predicted Every Major Economic Crisis of the Last Century (Auburn, Ala.: Mises Institute, 2018).