Booms and Busts

Hayek’s writings on business cycle theory; the seminal work of the 1930s and 1940s and the modifications he made in the 1970s after he received the Nobel Prize, 

This volume brings together highly important and relevant essays from distinguished authors, all of which are firmly anchored in the tradition of the Austrian School of Economics.

The book brings together sources that to some Austrians may appear hardly compatible, if not inconsistent. Insiders know that there are some significant differences between the views of, say, Mises, Hayek, and Lachman

That Hayek’s work on money, investment, and business cycle theory should be misunderstood and misrepresented poses nothing new. 

The Austrian theory mainly deals with analyzing the effects of an increased credit offer on productive structures.

Rothbard (1963) provides a compelling explanation of the Great Depression. He used the Austrian business cycle theory to show that the inflationary policies of the Federal Reserve

The 2007–2008 financial crisis, accompanying recession, and continuing slow recovery have reinvigorated crude Keynesianism as the foundation of a "somebody in charge" policy to combat recession and high unemployment.

In this article, the prime concepts are based on the Mises-Hayek theory of the business cycle.  Using this model as the general framework for analysis, additions and modifications are introduced reflecting theoretical advances and current problems

ABC theory is founded on the concept of a sustainable, market-determined interest rate, and predicts negative consequences when that equilibrium is persistently disturbed. 

Paolo Sylos Labini (1920–2005) was the one of the most influential economists in Italy after the Second World War. After graduating in 1942, Sylos Labini won a fellowship in the USA.