Cycles, Business and Otherwise, in the Austrian World View
Presented as part of the Mises Institute’s Brown Bag Seminar series on May 21, 1997 in Auburn, Alabama.
Presented as part of the Mises Institute’s Brown Bag Seminar series on May 21, 1997 in Auburn, Alabama.
Recorded at the Mises Circle in Houston, Sponsored by Jeremy S. Davis; Saturday, 24 January 2009.
In reality, a house is a consumers' good, just like an automobile or a refrigerator.
Old Right journalist Garet Garrett described the New Deal as a revolution against America's tradition of private property, limited government, and the rule of law.
We find ourselves enormously worse off, our economic prospects diminished greatly, and our liberties throttled more tightly by an even bigger Leviathan, with nothing to show for it on the upside but the further enrichment of a handful of big bankers and other malefactors of great wealth and power.
If it were possible to lift real economic growth by means of money pumping, world poverty would have been eradicated a long time ago.
What is required is purging the economy of various false activities that severely undermine its ability to generate real wealth.
Instead of permitting the necessary economic adjustments to be made in the wake of this unsustainable boom, the political classes — and their court economists — insist on even more government spending, more debt, and more destruction of the dollar.