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The Austrian Theory of the Trade Cycle and Other Essays

4.08  ·  Rating Details  ·  344 Ratings  ·  12 Reviews
Booms and busts are not endemic to the free market, argues the Austrian theory of the business cycle, but come about through manipulation of money and credit by central banks. In this monograph, Austrian giants explain and defend the theory against alternatives. Includes essays by Mises, Rothbard, Haberler, and Hayek. In his later years, Professor Haberler distributed many ...more
Paperback, 125 pages
Published March 28th 1996 by Ludwig Von Mises Inst (first published March 1996)
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Qasim
May 08, 2015 Qasim rated it really liked it
Shelves: economics
I read this book last year as a matter of general reading, and read it again this year again as a refresher on the fundamentals of the boom and bust business cycle as seen by the Austrian School, and it was definitely better the second time around. Perhaps the best feature of this fundamental work is that it presents different facets of the cycle in essays written by prominent Austrian theorists which goes a long way in adding perspective, and depth which anyone reading this will be able to appr ...more
Julian Haigh
Nov 07, 2014 Julian Haigh rated it it was ok
Little more than a pamphlet with cursory notes on the Austrian School. Focused almost exclusively on the dangers of credit-induced booms, particularly those inducing short-term allocations to investment from consumption or vice versa. Essentially, the government can 'make' monetary policy and the economy 'lags' to fall back to equilibrium, requiring more and more pumping to have the same effect - like a drug. Keynesian economics views the primary actors as states, but with increased globalizatio ...more
Ed Wagemann
Apr 17, 2012 Ed Wagemann marked it as to-read
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Brian Ogstad
Oct 24, 2014 Brian Ogstad rated it it was amazing
A great short book describing the Austrian analysis of the Trade Cycle or stated another way, the correct analysis of the Trade Cycle.
Aaron Crofut
Dec 17, 2010 Aaron Crofut rated it really liked it
Shelves: economics
The basic outline of the Austrian school of economic thought. Economics in general is rarely an easy read, especially for non economists like myself, but this book sketched out the basic theory in a fairly clear manner. The short of it is, improper interest rates (generally low rates instigated by the government) create economic booms via malinvestments, but like every good binger the hangover is killer. And yes, that analogy comes from this great YouTube video "Fear the Boom and Bust": http://w ...more
Jenny
Jun 27, 2009 Jenny rated it really liked it
This book explains some of the main ideas of the Austrian economic theory. With essays by von Mises, Haberler, Rothbard, and Hayek, this is a good place to get some of the basics from the original sources. It was interesting to me that each writer, often writing about near the same thing, wrote in such an individual style that some were easy to understand, and others very difficult. This book has valuable ideas, especially in this crazy time of economic “crisis” (depression, anyone?) This is one ...more
Pedro Jorge
Aug 22, 2015 Pedro Jorge rated it really liked it
Shelves: economics
Good introduction to the topic
Rendier
Oct 21, 2011 Rendier rated it liked it
Shelves: kindle
Not light bedtime reading, but a lot of interesting comment on the worldwide financial markets and the South African labour market of today, as written more than 50 years ago...
Trent
Jan 26, 2009 Trent rated it really liked it
I found this book very enlightening on opposing economic views. In opposition to Keynes, the Austrian school of economics makes a lot of sense to me.
Seth
Oct 11, 2012 Seth rated it really liked it
Helpful to economically ignorant people (such as myself) in understanding the fundamental ideas of Austrian economics.
Jeremy
Jun 18, 2012 Jeremy rated it it was amazing
Great introduction to Austrian Business Cycle Theory.
Steven Hoffer
Apr 22, 2009 Steven Hoffer rated it really liked it
Shelves: economics
Informative
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