The Fallacies of Nonmonetary Explanations of the Trade Cycle

Tags: Business Cycles, Monetary Theory, Value and Exchange

07/02/2010 Ludwig von Mises

A satisfactory explanation of business fluctuations must not be built upon the fact that individual firms make bad investments. Trade-cycle theory must explain the general upswing of business activities and the following general depression, writes Ludwig von Mises (1881–1973).

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