Tag Archives: ABCT

Fiat Money and Business Cycles in Emerging Markets

Roger McKinney has a good piece over at Mises.org. It is useful because it describes very simply  how Fed policy with the world’s reserve currency can internationalise the business cycle. This is relevant in particular for our African and South African … Continue reading

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Francois Hollande, Say’s Law & ABCT

Per Bylund on Twitter a few weeks back flagged some recent commentary by Professor Steven Kates on Say’s Law. I found Kates’ comments fascinating and I certainly think Say’s Law and its derivatives offers extremely fruitful analytical and theoretical opportunities … Continue reading

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RE: On The Empirical Relevance of Austrian Business Cycle Theory

My friend Grant McDermott, to whom I wrote why I think the empirical relevance of ABCT by Lester/Wolff may produce “mixed” results replied to me in this post. This is a quick one to elaborate my points. Firstly Grant says … Continue reading

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The Subsistence Fund and ABCT

I alluded in an earlier post to Eduard Braun’s explanation of Mises’ use of the concept of the “subsistence fund”, in Mises’ 1912 work The Theory of Money and Credit, to explain the workings of the business cycle and why some investment cycles are … Continue reading

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Technology and ABCT

Technology has a very interesting and highly complex effect on business cycles.  There is a lot that can be said about this topic but I just want to highlight a few important aspects of technology in its relation to ABCT and … Continue reading

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Further Thoughts on ABCT

Further to our posts yesterday, out of our discussion on ABCT came some thoughts on the length and shape of the production structure. While it is a feature of boom-bust cycles that during a credit-induced boom the production structure may lengthen … Continue reading

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RE: On The Empirical Relevance of Austrian Business Cycle Theory

Chris: Further to your useful post, it goes without saying that Austrian methodology is wholly different from the empirical analysis employed in the Lester/Wolff study. Three points on this: Firstly, it is interesting that despite all the data shortcomings, the authors found … Continue reading

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On The Empirical Relevance of Austrian Business Cycle Theory

A friend sent along a paper by Robert B. Lester and Jonathan S. Wolff titled “The empirical relevance of the Mises-Hayek theory of the trade cycle,” published in the Austrian Review of Economics in 2013. The paper finds, empirically, that … Continue reading

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Leon Louw Is Right…In A Sound Money World cont.

In response to my article “Leon Louw Is Right…In A Sound Money World“, Katy asks the following: I am fairly new to the field of rigorous economics, so please assist me if you may. You said, “So while we might … Continue reading

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Radio 702 ‘debate’ with Leon Louw on trade deficits

Just had a short semi-debate with Leon Louw on Bruce Whitfield’s Radio 702 show about the trade deficit issue that I wrote about here in response to Leon’s article here. I actually don’t think Leon and I are in major disagreement, … Continue reading

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