Sunday, May 10, 2009

On Austrian Business Cycle Theory, Recently

Brad DeLong offers an empirical criticism based on order of magnitude estimates. For some reason, John Quiggin's blog crashes this browser on this platform. So I look to Mark Thoma to echo Quiggin, who doesn't seem to understand the (failed) concepts. Quiggin doesn't mention Wicksell, the idea of a natural rate of interest, or capital structure, for example. DeLong's post was in response to Roger Garrison. Peter Boettke adds a post. In comments to some of these posts, I link to a recent iteration of my critique, which may have some influence on Roger Koppl.

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