Financial crisis origin -- Banking sector stress tests: United States versus the European Union -- Is the U.S. economy on the mend? -- Global recovery prospects: North America and Europe, Asia, and South America -- Hedge funds and derivatives, credit default swaps, and rating agencies -- U.S....

This paper reviews the ""Austrian"" theory of the business cycle first proposed by Friedrich Hayek in the 1920s. His theory claimed that credit creation by monetary authorities would push investment beyond society''s long-term willingness to save, creating a mismatch between supply and demand...