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Paul F. Cwik

Tags Money and BanksBusiness CyclesCapital and Interest TheoryHistory of the Austrian School of EconomicsMoney and Banking

Works Published inSpeeches and PresentationsMises Daily ArticleQuarterly Journal of Austrian EconomicsThe Free MarketArticles of Interest

Dr. Paul Cwik is a Fellow of the Mises Institute and the BB&T Professor of Economics and Finance at the University of Mount Olive. He also teaches the BB&T classes on the Foundations of Capitalism at North Carolina State University. He earned a BA from Hillsdale College, an MA from Tulane University, and a PhD from Auburn University, where he was a Mises Research Fellow. He has taught at several colleges and universities, including Auburn University, Campbell University, and Walsh College. He co-chairs the Austrian Economics Forum, a student discussion group at NCSU. Dr. Cwik has presented academic papers at the Southern Economic Association, the Society for the Development of Austrian Economics, the Prague Conference on Political Economy, the Austrian Scholars Conference, the BB&T Conferences on the study of capitalism, and the Austrian Economics Research Conference. He has published in academic journals that include Economic AffairsThe Quarterly Journal of Austrian EconomicsNew Perspectives on Political Economy: A Bilingual Interdisciplinary Journal, and Business Ethics: A European Review. He is also a reviewer of Essays in Economic and Business History and The Quarterly Journal of Austrian Economics. He has also published in The Freeman: Ideas on Liberty and his dissertation has been cited by The Wall Street Journal (February 2006).

All Works

Does the Inverted Yield Curve Signal a Coming Recession?

Booms and BustsThe FedMoney and BanksBusiness Cycles

05/12/2023Mises Media
Dr. Paul Cwik joins Bob to discuss the inverted yield curve's "signal" of an impending recession.
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Wilson, Waldo, Woke CEOs, and Ways Forward

EducationMedia and CultureStrategy

03/22/2022Mises Media
The Murray N. Rothbard Memorial Lecture, sponsored by Steven and Cassandra Torello.
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The Current Crisis Has Its Roots in the Central Bank

The FedMoney and Banks


By protecting banks from the costs of poor investment decisions, central banks encourage further risk taking and malinvestment. They also prevent liquidation, which brings failed businesses' assets to the market at bargain prices, allowing new businesses to emerge from the detritus.

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Inverted Yield Curves, Recessions, and You

Financial MarketsU.S. EconomyBusiness CyclesCapital and Interest Theory


To understand what an inverted yield curve means, you must first understand what the yield curve is.

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Austrian Business Cycle Theory: A Corporate Finance Point of View

Booms and BustsBusiness Cycles

07/30/2014Quarterly Journal of Austrian Economics
The Austrian business cycle theory (ABCT) has been criticized for not being a true theory of the business cycle. The main emphasis of the ABCT has been on the theory of the upper-turning point


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