Walter Block and William Barnett on Problems With the Hayekian Triangle

10/10/2019Robert P. MurphyWalter BlockWilliam Barnett II

In a 2006 journal article, “On Hayekian Triangles,” Walter Block and William Barnett list 14 separate objections to the popular device used (in various forms) by Hayek, Rothbard, and Roger Garrison to illustrate how artificially low interest rates lead to an unsustainable boom. Block concludes that the Hayekian triangle can be salvaged, while Barnett thinks it should be abandoned altogether.

For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on iTunes, Stitcher, Spotify, and via RSS.

Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.

Authors:

Contact Robert P. Murphy

Robert P. Murphy is a Senior Fellow with the Mises Institute. He is the author of numerous books: Contra Krugman: Smashing the Errors of America's Most Famous Keynesian; Chaos Theory; Lessons for the Young Economist; Choice: Cooperation, Enterprise, and Human Action; The Politically Incorrect Guide to Capitalism; Understanding Bitcoin (with Silas Barta), among others. He is also host of The Bob Murphy Show.

Contact Walter Block

Walter Block is the Harold E. Wirth Eminent Scholar Endowed Chair in Economics at Loyola University, senior fellow of the Mises Institute, and regular columnist for LewRockwell.com.

Click here to see an extensive online compendium of Dr. Block's publications.

Click here for a complete list of Dr. Block's books.

Contact William Barnett II

Bill Barnett is professor of economics at Loyola University in New Orleans.