Booms and Busts

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 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. 

The skyscraper index, created by economist Andrew Lawrence shows a correlation between the construction of the world’s tallest building and the business cycle.

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, 

Most historians claim that Herbert Hoover adhered to a policy of laissez faire after the stock market crash of 1929. This laissez faire policy is allegedly responsible for the severity and persistence of unemployment 

The financial crisis and the events leading up to it have sparked a remarkable renewal of interest in Austrian Business Cycle Theory (ABCT).

On October 29, 1929, the roof fell in on the booming American economy.

Volume 20, Number 1 (Spring 2000)

An Interview with Gottfried von Haberler (1900-1995)