Tags » Austrian Business Cycle Theory

Why Austrian Economics?

The other day someone sent me a question over on my Tumblr blog: “Why Austrian economist? I thought you were English. Aren’t you a British national?” 2,436 more words

Austrian Business Cycle Theory

Eating the Inner Organs of Beasts and Fowls

Mr. Leopold Bloom was clearly given to sensuous pleasures but he wasn’t entirely immune to the pleasures of the mind. Following yesterday’s market action, most of us probably feel the need to scale back a little from our sensuous pleasures, such as eating the “inner organs of beasts and fowls”, and give more weight to reflective or cerebral pursuits. 450 more words

Economy

Bernanke's Continuing Confusion about How Monetary Policy Works

TravisV recently posted a comment on this blog with a link to his comment on Scott Sumner’s blog flagging two apparently contradictory rationales for the Fed’s quantitative easing policy in chapter 19 of Ben Bernanke’s… 756 more words

Keynes

Capital in Disequilibrium: The Austrians’ Answer to New Growth Theory

This book, Capital in Disequilibrium: The Role of Capital in a Changing World by Peter Lewen, is supposed to be Austrian Economics’ answer to “new growth theory”, which recognizes that new human knowledge is the most important component to economic growth.  840 more words

Innovation

Excess Volatility Strikes Again

Both David Henderson and Scott Sumner had some fun with this declaration of victory on behalf of Austrian Business Cycle Theory by Robert Murphy after the recent mini-stock-market crash. 1,084 more words

Expectations