- | Academic & Student Programs Academic & Student Programs
- | Journal Articles Journal Articles
- |
Not Enough Bricks
Monetary Misperceptions and the UK Housing Boom
Originally published in The Quarterly Journal of Austrian Economics
This article analyzes the housing boom witnessed in the UK economy from 1994–2007 in light of the Austrian theory of the business cycle (ABC). Ludwig von Mises’s parable of the “bricks” is utilized to provide empirical grounding for the theory, and the television series “Property Ladder” is used to illustrate the key aspects of the Austrian narrative. In particular attention is drawn to the role of marginal borrowers, regeneration projects, and forced savings.
This article analyzes the housing boom witnessed in the UK economy from 1994–2007 in light of the Austrian theory of the business cycle (ABC). Ludwig von Mises’s parable of the “bricks” is utilized to provide empirical grounding for the theory, and the television series “Property Ladder” is used to illustrate the key aspects of the Austrian narrative. In particular attention is drawn to the role of marginal borrowers, regeneration projects, and forced savings.
Find the article at Mises Institute.
To speak with a scholar or learn more on this topic, visit our contact page.