Economics of Liberty - part 1 - 1st Great Depression Myth - Austrian Business Cycle Theory

[quietlike]

beter quality please

[EconomicLiteracyNow]

Spot-on analysis. Our economic policies are being dictated by 21st century alchemists, who get Nobel prizes for obfuscating the natural laws of economics and advocating disastrous remedies. Meanwhile the Austrians have predicted every major event accurately and no one in government or journalism is asking them how we got here and what should be done.

[Finlandcitizen]

@CytherLynx

Actually as I remember reading, didn't the name also come from some of the german critique, naming it austrian as it was considered to be so east of civilization?

[RafLovesMary]

hi maybe thats a stupid question but google couldnt give me a good answer...

why do english speakers call it the "austrian theory"???

what does it have to do with austria???

[EconomicLiteracyNow]

@RafLovesMary

Carl Menger, Friedrich von Wieser, Eugen von Boehm-Bawerk, Ludwig von Mises, and Friedrich Hayek were all Austrian and made the greatest contributions to modern Austrian school thinking, although its precepts date back to Late Scholastics (St. Thomas Aquinas and his followers at Salamanca) and some French liberal writers. They were opposed by the German historical economists, who began referring to them as "Austrian."