Booms and Busts

The Argentine government has a habit of spending without restraint and then trying to cheat its creditors.

The Wall Street Journal declares it a do

The problem is that Argentina had decided to once again prefer deficits and unrestrained government spending to paying its obligations.

Regarding Nicolás Cachanosky’s insightful article this morn

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