What Austrian Business Cycle Does and Does Not Claim as True

Originally published in Economic Affairs

Contemporary economic commentators have a habit of dismissing Austrian business cycle theory on the grounds that the implications for policy responses are unconvincing. Often the ‘Austrian’ position is misunderstood.

Contemporary economic commentators have a habit of dismissing Austrian business cycle theory on the grounds that the implications for policy responses are unconvincing. Often the ‘Austrian’ position is misunderstood. But even if we wish to draw on other schools of thought to understand depressions, this does not affect the importance of Austrian insights to explain the boom.

Find article at Wiley Online Library

To speak with a scholar or learn more on this topic, visit our contact page.