We contribute to the debate over the contemporary relevance of the Austrian Business Cycle theory (ABC) by making three theoretical developments.
Ludwig von Mises established the foundations of modem Austrian economics while Irving Fisher established the foundations of modem mainstream macroeconomics and central bank policy.
John B. Egger and Leland B. Yeager review William H.
This paper is a review of Austrian School references in business cycle studies published by the National Bureau of Economic Research.
Rothbard (1963) provides a compelling explanation of the Great Depression. He used the Austrian business cycle theory to show that the inflationary policies of the Federal Reserve
Paolo Sylos Labini (1920–2005) was the one of the most influential economists in Italy after the Second World War. After graduating in 1942, Sylos Labini won a fellowship in the USA.
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.
In a recent article appearing in this journal, Douglas MacKenzie (2010) argues that President Hoover’s business conferences artificially propped up wages in the early years of the Depression,
The step-by-step analysis in Dinero, Crédito Bancario y Ciclos Económicos, which starts from legal distinctions and then proceeds to discuss related economic issues, has a decidedly Rothbardian twist.
