Booms and Busts

The Austrian theory mainly deals with analyzing the effects of an increased credit offer on productive structures.

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. 

Vedder and Gallaway's (2011) rejoinder to my comment on MacKenzie (2010) seems to fundamentally misunderstand both my comment's argument and the contribution of Rose (2010). 

In this article, the prime concepts are based on the Mises-Hayek theory of the business cycle.  Using this model as the general framework for analysis, additions and modifications are introduced reflecting theoretical advances and current problems

ABC theory is founded on the concept of a sustainable, market-determined interest rate, and predicts negative consequences when that equilibrium is persistently disturbed. 

This paper contrasts mainstream analysis of the recent boom/bust episode and its massive interventions with Austrian business cycle theory (ABCT). 

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,

Austrian business cycle theory (ABCT) has focused on the effect of interest rates set below the natural rate, leading to unwarranted attempts by businessmen 

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. 

The Austrian theory of the business or trade cycle is an intricate blend of monetary theory and capital theory. Mises’s (and Hayek’s) monetary and capital theories differ in both significant