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‪"The Cluster of Errors" - The Austrian Theory of Boom and Bust

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Uploaded on Oct 24, 2010

Are Austrians a broken clock that's right twice a day (when there's a bubble that busts)? Why do entrepreneurs continue to be fooled by manipulation of interest rates by the central bank? In this EconStories mini-documentary, part III in our first series on the Mises/Hayek theory of boom and bust, Lawrence H. White addresses the expectations and the cluster of entrepreneurial errors that reveal themselves during a bust.

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