In Defense of Austrian Business Cycle Theory

Brian P. Simpson

Chapter 4 in Money, Banking, and the Business Cycle, 2014, pp 87-109 from Palgrave Macmillan

Abstract: Abstract The business cycle theory expounded in the previous chapter has its roots in Austrian business cycle theory (ABCT). ABCT was originated by Ludwig von Mises and developed further by Friedrich Hayek. The theory I present also incorporates many important truths identified by George Reisman.1 Others have contributed to the development and defense of ABCT as well. In terms of essential characteristics, there are no differences between what I present here and ABCT, so I will refer to them synonymously.

Keywords: Interest Rate; Business Cycle; Money Supply; Real Interest Rate; Rational Expectation (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-33149-6_5

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DOI: 10.1057/9781137331496_5

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