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Showing posts with label AUSTRIAN ECONOMICS. Show all posts
Showing posts with label AUSTRIAN ECONOMICS. Show all posts

Wednesday, September 12, 2012

The economic consequences of cheap money


Ludwig Von Mises
[From a memorandum, dated April 24, 1946, prepared in English by Professor Mises for a committee of businessmen for whom he served as a consultant, this article appears in The Causes of the Economic Crisis, and Other Essays Before and After the Great Depression (2006) as chapter 5, "The Trade Cycle and Credit Expansion: The Economic Consequences of Cheap Money."]
The author of this paper is fully aware of its insufficiency. Yet, there is no means of dealing with the problem of the trade cycle in a more satisfactory way if one does not write a treatise embracing all aspects of the capitalist market economy. The author fully agrees with the dictum of Böhm-Bawerk: “A theory of the trade cycle, if it is not to be mere botching, can only be written as the last chapter or the last chapter but one of a treatise dealing with all economic problems.”
It is only with these reservations that the present writer presents this rough sketch to the members of the Committee.

I. The Unpopularity of Interest

Monday, October 18, 2010

Tea Party Anger at the Fed

Judge Napolitano and FreedomWorks' Matt Kibbe talk Austrian economics and why we should audit and abolish the Federal Reserve.



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