Quarterly Journal of Austrian Economics
Author:
Robert C.B. Miller
Online Publish Date:
Volume 15, Number 4 (Winter 2012) Austrian business cycle theory (ABCT) has focused on the effect of interest rates set below the natural rate, leading to unwarranted attempts by businessmen to make more elaborate roundabout structures than can be completed by the available foregone consumption. This distorting effect is the main theme of the