The Austrian Theory of the Trade Cycle
January 5, 2009
This semester, I’m enrolled in “Analysis of Economic Conditions” at the University of Detroit Mercy. That’s the University’s title for graduate macroeconomics. The class is taught by Professor Harry Veryser.
One of the books for the class is “The Austrian Theory of the Trade Cycle and Other Essays.”
Here’s a description of the book…
Booms and busts are not endemic to the free market, argues the Austrian theory of the business cycle, but come about through manipulation of money and credit by central banks. In this monograph, Austrian giants explain and defend the theory against alternatives.
Sounds like something we could learn from to help correct today’s messed up economy.
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Good luck convincing anyone in Congress to take this seriously.
Half of the Dems in DC read “Austrian” and the first thing they think is “Vienna Sausage… yum!”
It’s a little something I like to refer to as a “disconnect.”
–Nick
http://www.RightMichigan.com
Way to go, Dave.
Keep preaching the good word. The more that can learn the trade cycle – the better off our society will be.
(And, it’s a great book!)