Glasner, David - In: Studies in the history of monetary theory : …, (pp. 429-456). 2021
Hayek's early writings on business-cycle theory and the Great Depression argued that cyclical downturns, including that … exceeding voluntary saving. Believing that monetary expansion caused the crisis, Hayek opposed monetary expansion to cure the … that prices in general should fall when output rises and rise when output falls. This chapter suggests that Hayek made …
