At the beginning of World War I, the US Treasury secretary closed the New York Stock Exchange to stop the sale of dollar-denominated securities.
The Austrian theory mainly deals with analyzing the effects of an increased credit offer on productive structures.
Arthur Hughes seeks to apply the Austrian theory of the business cycle to the recession of 1990.
Austrian business cycle theory has a legitimate claim to being the most authoritative explanation of the recent global financial and economic crisis.
The spread-model provides no point of attachment for spiral reasoning because there is no representativity assumption that forces the model agents to behave in a similar way.
Recognizing different types of savings allows for a more fruitful analysis of the business cycle. Sustainable investment activities must be financed by an equivalent amount of savings, both in length of availability and quantity.
Free banking is a process where the market makes the ultimate judgment on where to draw the line between money as a present good and money as a future good.
The Cantillon effects cited in Thornton (2005) are a consequence of the central bank, and result in entrepreneurial errors during expansions in the NBER’s US business cycle chronology.
This book is a long-awaited project among Austrian economists; some of the central contributions found in the book date back nearly a quarter of a century.
This short note is a contribution to the solution of the problem of indifference in Austrian economics (“Nozick’s problem”). The problem is divided into two questions:
