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Hayek's early writings on business-cycle theory and the Great Depression argued that cyclical downturns, including that of 1929-1931 were caused by unsustainable elongations of the capital structure caused by bank-financed investment exceeding voluntary saving. Believing that monetary expansion...
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This paper analyzes the period 1867-79 in American economic history from an "Austrian" perspective. The post-Civil War boom, the Panic of 1873, and the subsequent downturn are investigated in light of Austrian Business Cycle Theory (ABCT) and its structure of production framework. This paper...
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Title -- Dedication -- Contents -- Introduction - It Didn't Have to Be This Way -- Part I - Warnings Ignored -- Chapter 1 - A Science of Human Action -- Chapter 2 - Looking at Today and Dreading Tomorrow -- Chapter 3 - A Short History of the Austrian School -- Part II - How We Got Here --...
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