Is the Austrian theory enough?

posted by
April 27, 2016
Foundation for Economic Education
by Steven Horwitz  
Posted in Commentary

"The Austrian theory explains what economist Roger Garrison has called 'the unsustainable boom.' It shows that if a boom is set in motion by overly expansionary monetary policy, then the apparent growth taking place during that boom will not be sustainable. The artificial boom contains the seeds of its own bust, and the illusory growth will soon be revealed as such. But there is much that the theory does not tell us." (04/27/16)  

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