The Great Depression has been a deeply contested subject from the very beginning. After John Maynard Keynes’s General Theory became sacred writ for most mainstream economists, Keynesian interpretations generally prevailed, notwithstanding pockets of resistance among older economists, in general, and Austrian school economists, in particular. Milton Friedman and Anna Schwartz’s monumental Monetary History of…
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Tag: General Theory
Robert Higgs | Monday January 24, 2011 at 10:49 AM PST
David Theroux | Tuesday January 26, 2010 at 1:21 PM PST
Here is a splendid and insightful, new rap video pitting the ideas of Nobel Laureate, Austrian School economist Friedrich A. Hayek against those of Lord John Maynard Keynes. As Hayek has shown, economic crises of boom and bust are created by governments that expand credit through central banks, creating unsustainable bubbles that ultimately crash….
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