Goodreads helps you keep track of books you want to read.
Start by marking “The Austrian Theory of the Trade Cycle and Other Essays” as Want to Read:
The Austrian Theory of the Trade Cycle and Other Essays
Enlarge cover
Rate this book
Clear rating
Open Preview

The Austrian Theory of the Trade Cycle and Other Essays

4.1  ·  Rating details ·  472 Ratings  ·  15 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 1978)
More Details... edit details

Friend Reviews

To see what your friends thought of this book, please sign up.

Reader Q&A

Be the first to ask a question about The Austrian Theory of the Trade Cycle and Other Essays

Community Reviews

(showing 1-30)
Rating details
Sort: Default
Qasim Zafar
Nov 09, 2014 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
Aug 08, 2013 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
Otto Lehto
Sep 30, 2015 rated it liked it
This is essentially a collection of five essays (plus a short introduction), all of which are fundamental elaborations - statements and restatements - of the Austrian Business Cycle Theory. It escapes me, it truly does, why you'd want to read six versions of the same thing, which are pretty much written from a near- identical perspective, unless 1) you are interested in intellectual history and want to study the small differences between the Austrian authors, or else 2) you are a doctrinaire Aus ...more
Ed Wagemann
Apr 17, 2012 marked it as to-read
How The Superbowl Encourages Socialism:

D. Jason
Feb 13, 2013 rated it really liked it  ·  review of another edition
Shelves: essays, audio-books
Essays by Mises, Hayek, Rothbard, and others less well-known giving an overview of the Austrian theory of the business cycle.

The essays are generally very accessible (particularly Rothbard's), and make the theory not only very clear, but almost painfully obvious. Let's just say that finishing this book, then hearing clips from Obama's 2013 State of the Union address did nothing to raise my estimation of his knowledge of how the economy works. It also sadly made clear that we're in for a real cor
Aaron Crofut
Nov 27, 2010 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
Jun 19, 2009 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
Steven Hoffer
Apr 15, 2009 rated it really liked it
Shelves: economics
Oct 11, 2012 rated it really liked it
Helpful to economically ignorant people (such as myself) in understanding the fundamental ideas of Austrian economics.
Brian Ogstad
Oct 24, 2014 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.
May 10, 2015 rated it it was amazing
An excellent collection of essays and lectures on capital based macroeconomics. Roger Garrison's introduction and summary are fantastic.
Jan 26, 2009 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.
Oct 13, 2011 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...
Jun 05, 2012 rated it it was amazing
Great introduction to Austrian Business Cycle Theory.
Barry Macleod-Cullinane
rated it really liked it
Apr 10, 2012
Josh Hanson
rated it really liked it
Feb 09, 2010
Christina Daniel
rated it it was ok
Jul 15, 2017
rated it really liked it
Oct 21, 2016
Linda Raeder
rated it it was amazing
Nov 30, 2013
Rhett Kahn
rated it it was amazing
Feb 16, 2013
Sereyrath Chea
rated it really liked it
Oct 26, 2016
rated it liked it
Feb 06, 2014
Arjun H
rated it it was amazing
Aug 20, 2014
rated it it was amazing
Nov 21, 2012
Kenn Jacobine
rated it it was amazing
Feb 04, 2015
Jack Feka
rated it liked it
Nov 13, 2017
Noah Dell
rated it it was amazing
Mar 02, 2014
Theodore Porter
rated it it was amazing
Jan 13, 2017
ronald a cybalski
rated it it was amazing
Jan 17, 2017
rated it it was amazing
Dec 09, 2010
« previous 1 3 4 5 6 7 8 9 next »
There are no discussion topics on this book yet. Be the first to start one »
  • The Theory of Money and Credit
  • The Case Against the Fed
  • Money, Bank Credit, and Economic Cycles
  • Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and the Government Bailout Will Make Things Worse
  • Individualism and Economic Order
  • Principles of Economics
  • The Failure of the New Economics
  • Economics for Real People: An Introduction to the Austrian School
  • A Foreign Policy of Freedom: Peace, Commerce, and Honest Friendship
  • The Enterprise of Law: Justice Without the State
  • The Politically Incorrect Guide to Capitalism
  • How Capitalism Saved America: The Untold History of Our Country, from the Pilgrims to the Present
  • Crash Proof 2.0: How to Profit from the Economic Collapse

Nonfiction Deals

  • Astoria: John Jacob Astor and Thomas Jefferson's Lost Pacific Empire: A Story of Wealth, Ambition, and Survival
    $8.24 $1.99
  • A Secret Sisterhood: The Literary Friendships of Jane Austen, Charlotte Brontë, George Eliot, and Virginia Woolf
    $27.00 $2.99
  • Grammar Girl's Quick and Dirty Tips for Better Writing
    $9.99 $2.99
  • The Paradox of Choice: Why More Is Less
    $10.74 $1.99
  • Anam Cara: A Book of Celtic Wisdom
    $8.99 $1.99
  • A Room of One's Own
    $9.99 $2.99
  • Ashley's War: The Untold Story of a Team of Women Soldiers on the Special Ops Battlefield
    $8.24 $1.99
  • Life in a Medieval City
    $8.24 $1.99
  • Surprised by Hope: Rethinking Heaven, the Resurrection, and the Mission of the Church
    $12.99 $1.99
  • The Only Thing Worth Dying For: How Eleven Green Berets Forged a New Afghanistan
    $8.99 $1.99
  • Too Close to Me: The Middle-Aged Consequences of Revealing A Child Called "It"
    $9.99 $1.99
  • The Creation of Anne Boleyn: A New Look at England's Most Notorious Queen
    $9.99 $2.99
  • Inside the Criminal Mind: Revised and Updated Edition
    $11.99 $1.99
  • Being Wrong: Adventures in the Margin of Error
    $9.24 $1.99
  • Orange Is the New Black: My Year in a Women's Prison
    $13.99 $2.99
  • How Dare the Sun Rise: Memoirs of a War Child
    $8.99 $1.99
  • Social: Why Our Brains Are Wired to Connect
    $11.99 $1.99
  • Love, Loss, and What We Ate: A Memoir
    $11.49 $1.99
  • Countdown to Zero Day: Stuxnet and the Launch of the World's First Digital Weapon
    $11.99 $1.99
  • Evangelii Gaudium: The Joy of the Gospel
    $9.99 $1.99
  • The Heart of Christianity
    $9.74 $1.99
  • Hidden Figures
    $4.09 $1.99
  • Clear Your Clutter with Feng Shui
    $9.99 $1.99
  • Act Like a Lady, Think Like a Man
    $7.24 $1.99
  • Priceless: How I Went Undercover to Rescue the World's Stolen Treasures
    $11.99 $1.99
  • Decoded
    $9.99 $1.99
  • A Man Called Intrepid: The Incredible True Story of the Master Spy Who Helped Win World War II
    $14.99 $1.99
  • K2: Life and Death on the World's Most Dangerous Mountain
    $11.99 $1.99
  • Proud Highway: Saga of a Desperate Southern Gentleman, 1955-1967
    $12.99 $1.99
  • Crazy Love: Overwhelmed by a Relentless God
    $15.99 $2.99
  • Twilight of the Elites: America After Meritocracy
    $11.99 $1.99
  • The Art of Living: The Classical Mannual on Virtue, Happiness, and Effectiveness
    $10.49 $1.99
  • Beautiful Bodies
    $5.99 $1.99
  • Come to the Edge
    $6.99 $1.99
  • The Art of Communicating
    $9.49 $2.99
  • American Jezebel
    $8.24 $1.99
“If the prices rise in a continuous manner and if the borrower as a result gains a supplementary profit from the sale of the merchandise which he bought with the borrowed money, he will be disposed to pay a higher rate of interest than he would have paid in a period of stable prices; the capitalist, on the other hand, will not be disposed to lend under these conditions, unless the interest includes a compensation for the losses which the diminution in the purchasing power of money entails for creditors.” 0 likes
More quotes…