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Booms and BustsAustrian Economics OverviewBusiness Cycles
The “boom-bust” cycle is generated by monetary intervention in the market, specifically bank credit expansion to business.
Global EconomyBusiness Cycles
Creative design of statistics cannot solve the persistent crisis. The core of the problem lies in a misguided economic policy that zombifies the Japanese economy and thus undermines prosperity.
Booms and BustsBusiness Cycles
The world now has the impossible choice of permanently reduced productivity and slower economic growth — or the mass bankruptcy of a significant percentage of the economy.
Business CyclesMoney and Banking
So how about it, Mr. Powell? A real economy operates without ultra-low interest rates and activist central bank stimulus.
Financial MarketsBusiness CyclesMoney and Banking
What causes financial crises, domestic and global, is the underlying, continuing credit expansion.
Booms and BustsBusiness CyclesOther Schools of Thought
The Austrian story fits the facts of the housing boom—and bust—much better than the preferred narrative of Market Monetarists.
With this book, I am hopeful fewer Americans will be duped the next time there is a crash, and the mainstream experts assure us that more government intervention will solve the problem.
The FedGlobal EconomyBusiness Cycles
Emerging economies should not bet on the Fed to bail them out, but begin to solve their serious imbalances without expecting monetary miracles.
"Higher order" industries like manufacturing and mining are particularly sensitive to changes in interest rates. And it doesn't look like anything's different this time around.
Booms and BustsLabor and WagesBusiness Cycles
Here are the fateful words that set the stage for years of high unemployment: “We believe in the principle of high wages.”