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WHAT AUSTRIAN BUSINESS CYCLE THEORY DOES AND DOES NOT CLAIM AS TRUE
Author(s) -
Evans Anthony J.
Publication year - 2010
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.2010.02025.x
Subject(s) - austrian school , business cycle , boom , positive economics , position (finance) , habit , economics , affect (linguistics) , neoclassical economics , law and economics , keynesian economics , sociology , psychology , engineering , social psychology , finance , communication , environmental engineering
Contemporary economic commentators have a habit of dismissing Austrian business cycle theory on the grounds that the implications for policy responses are unconvincing. Often the ‘Austrian’ position is misunderstood. But even if we wish to draw on other schools of thought to understand depressions, this does not affect the importance of Austrian insights to explain the boom.