Science sinks or swims based on the quality of the distinctions it makes, and social science is no exception to this general rule. It is as important to make accurate differentiations in the history of economic thought as it is in any other branch of this discipline.In this regard, the...

Barnett and Block (2008) establish that not only are fractional reserve demand deposits fraudulent and create an Austrian Business Cycle (ABC), but that a certain type of mismatching between time deposits and the period for which the depository institution re-lends the deposited funds (banks or...

In "Why the Austrians Are Wrong About Depressions," Professor Tullock (1987, p. 73) makes some statements that are incorrect and others which, properly interpreted, refute or at least, fail egregiously to support, his thesis that the Austrian theory of the trade cycle is incorrect. We begin by...

Richard Wagner (2000) is an attack on the Austrian business cycle (ABC) theory. Although I shall be defending the latter against the former, I welcome Wagner’s contribution to the debate on the Austrian theory of the business cycle. It provides a good background review, and provides us with an...