Economist Steve Horwitz recently wrote an article urging Austrians to be not quite so boastful about their business cycle theory. After all, he said, it has serious shortcomings. And we should supplement our view of the Great Depression with the work of Milton Friedman, who blamed it on deflation.
In today’s episode, my guests put everything right.
About the Guest
Jonathan Newman holds a Ph.D. from Auburn University. Joe Salerno is academic vice president of the Mises Institute (insert hyperlink), and holds academic positions at Pace University and Auburn University.
Envious of people who run virtual businesses from a computer, and can work on their own time and from anywhere? Here’s a guy, from whom I’ve learned a lot, who’s created ten such businesses, who’s starting a free video series on how to do it. Watch here.
“Is the Austrian Theory Enough?,” by Steve Horwitz
“Booms, Busts, and the Boundaries of Economics,” by Jonathan Newman
“What – or Who – Started the Great Depression?,” by Lee Ohanian (PDF)
“The Causes of the Economic Crisis,” by Ludwig von Mises
Ep. 419 Austrian Business Cycle Theory: Answering the Critics (David Howden)
Ep. 367 Murphy Takes on Krugman on Recessions, Business Cycles (Bob Murphy)
Ep. 118 Boom and Bust: The Cause (David Howden)
Ep. 16 Austrian Economics: Why It Matters
The Contra Cruise
Join us October 9-16 for an unforgettable week at sea!
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