Problems with the Austrian Business Cycle Theory

Reason Papers 5:41-53 (1979)
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Abstract

As A HISTORIAN,I have long been interested in applying the insights of Austrian theory to the interpretation of business cycles as they have occurred in history. In pursuing this endeavor, I have encountered what I believe are a number of problems with Austrian business cycle theory. I will present six of these problems in this paper. Some I feel close to having resolved myself; on others, I can only offer constructive comments.

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