georglowinger's review
3.0
"Like the related doping of a horse, the boom is kept on its way and ahead of its invetibale comeuppance, by repeated dosis of the stimulant of bank credit."
Decent summation of Austrian theory of (depr/rec)-essions. Following Mises, Rothbard argues that inflationary bank credit influenced by the government is the cause of depressions. The only remedy is a laissez faire economy with a government that leaves off. Rothbard also argues against Keynes' theory of depressions, by arguing that it assumes businessmen cannot predict the sudden collapse of consumption.
Decent summation of Austrian theory of (depr/rec)-essions. Following Mises, Rothbard argues that inflationary bank credit influenced by the government is the cause of depressions. The only remedy is a laissez faire economy with a government that leaves off. Rothbard also argues against Keynes' theory of depressions, by arguing that it assumes businessmen cannot predict the sudden collapse of consumption.
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