Toward a General Theory of Error Cycles

Volume 1, No. 4 (Winter 1998)

One of Ludwig von Mises’s most important contributions to economic science was the business cycle theory that he first presented in his Theory of Money and Credit (1981, ch. 19, esp. pp. 338ff.). This theory has been elaborated by Mises himself and received important additions through the hands of Friedrich A. Hayek and Murray N. Rothbard.[1] Yet in its foundations it remains unshaken as from the day of its first publication.