Most historians claim that Herbert Hoover adhered to a policy of laissez faire after the stock market crash of 1929. This laissez faire policy is allegedly responsible for the severity and persistence of unemployment
The financial crisis and the events leading up to it have sparked a remarkable renewal of interest in Austrian Business Cycle Theory (ABCT).
Arthur Hughes seeks to apply the Austrian theory of the business cycle to the recession of 1990.
In a recent study, Keeler (2001) attempts to provide historical/empirical evidence for the Austrian business cycle theory by examining the effect of interest-rate changes on various components
It is with great trepidation and anticipation that we review Robert Shiller’s new book, The Subprime Solution. Trepidation as to the causes of the problem, which were expected to take a behavioral spin.
Austrian business cycle theory has a legitimate claim to being the most authoritative explanation of the recent global financial and economic crisis.
his paper investigates the potential systemic risks posed to the U.S. securities markets by the banking crisis during the Panic of 1907. Past studies of 1907 have focused almost exclusively on the banking crisis.
Jeffrey Friedman and Wladamir Kraus attempt to separate the wheat from the chaff by sizing up these theories next to some hard facts. The result is enlightening.
While damning the free market with the faintest of praise, Krugman’s book provides us with an excellent example of why it is so important to get the analysis right before prescribing policy solutions for an economic problem.
Markets are not efficient as that term is currently used in academic finance. Rather, markets are reflexive in that market behavior and the fundamentals reflect each other via a two-way, interactive feedback loop.
