Why the Austrians Are Wrong about Depressions

Tags: Austrian Economics Overview, Booms and Busts

02/19/2015 Review of Austrian Economics Gordon Tullock

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For many years, I have been critical of the Austrian theory of depressions and this led Walter Block to ask me to put my criticisms in print. Since in oral discussions, I am frequently accused of misrepresenting the theory, I asked him to give me a canonical version and he gave me the Rothbard pamphlet, “Economic Depressions: Their Cause and Cure”.

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