Tags » Austrian Business Cycle Theory

Economic Myths #2 – Consumption Boosts Growth

The belief that economic progress is boosted by consumption is based upon the kind of misunderstanding that could be made only by intellectuals – the product of theorising that is completely detached from the common sense that everyone else possesses. 741 more words


Hayek's Rapid Rise to Stardom

For a month or so, I have been working on a paper about Hayek’s early pro-deflationary policy recommendations which seem to be at odds with his own idea of neutral money which he articulated in a way that implied or at least suggested that the ideal monetary policy would aim to keep nominal spending or nominal income constant. 2,452 more words