Boom-Bust Cycles are Not in the Nature of Things (Review of \"Meltdown. A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse\", by Thomas E. Woods Jr.)

Stamate-Ştefan Andreas
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Stamate-Ştefan Andreas: Academia de Studii Economice din Bucureşti

Revista OEconomica, 2014, issue 02

Abstract:

Focused especially on the causes, Woods elegantly discovers in the tradition of the Austrian School of economics that the main culprit for the creation of crises is the monetary system’s nature. As he goes, this is a system that allows a process of artificially expanded money supply which necessarily leads to the general increase in the price level (inflation) that erodes the purchasing power of people’s money.

Keywords: crisis; money; bailout; depression (search for similar items in EconPapers)
JEL-codes: B53 E31 E32 E42 F44 H81 (search for similar items in EconPapers)
Date: 2014
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