Mises Daily
Author:
Ersan Bocutoglu
Aykut Ekinci
Online Publish Date:
Austrian business-cycle theory (ABCT) is capable of explaining the origin of the current global crisis. Therefore, ABCT provides Austrian economists with an advantageous position, compared to the other schools, in foreseeing this crisis. See, for example, Thornton (June 2004) , Karlsson (November 2004) , Shostak (August 2005) . ABCT suggests that