This volume brings together highly important and relevant essays from distinguished authors, all of which are firmly anchored in the tradition of the Austrian School of Economics.
Austrian business cycle theory (ABCT), we contend, is essential to understanding the recent boom and bust cycle in the American (and, to a great extent, the global) economy.
That Hayek’s work on money, investment, and business cycle theory should be misunderstood and misrepresented poses nothing new.
ABC theory is founded on the concept of a sustainable, market-determined interest rate, and predicts negative consequences when that equilibrium is persistently disturbed.
The Austrian business cycle theory (ABCT) has been criticized for not being a true theory of the business cycle. The main emphasis of the ABCT has been on the theory of the upper-turning point
The business cycle refers to fairly broad changes in economic activity according to a well-identified sequence, which includes a boom, a crisis, a
Keynes's presentation of our rates of interest on wheat and housing is set within Austrian business cycle theory, to show that soaring wheat prices and subprime mortgage write-downs are expected,
Austrian business cycle theory has a legitimate claim to being the most authoritative explanation of the recent global financial and economic crisis.
