Lowell E. Gallaway (1930-2019) was Distinguished Professor of Economics and Faculty Associate in the Contemporary History Institute at Ohio University.
The conventional wisdom proposition suggested by Galbraith that there is endemic instability in a market-based economy that can be remedied only by government policy interventions is inappropriate.
Professors Vedder and Gallaway provide a comprehensive examination of unemployment in the last century of American economic history, using a persuasive mix of Austrian theory (on money and business cycle), empirical methods, and narrative history
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.
