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In Defense of Austrian Business Cycle Theory

In: Money, Banking, and the Business Cycle

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  • Brian P. Simpson

Abstract

The business cycle theory expounded in the previous chapter has its roots in Austrian business cycle theory (ABCT). ABCT was originated by Ludwig von Mises and developed further by Friedrich Hayek. The theory I present also incorporates many important truths identified by George Reisman.1 Others have contributed to the development and defense of ABCT as well. In terms of essential characteristics, there are no differences between what I present here and ABCT, so I will refer to them synonymously.

Suggested Citation

  • Brian P. Simpson, 2014. "In Defense of Austrian Business Cycle Theory," Palgrave Macmillan Books, in: Money, Banking, and the Business Cycle, chapter 4, pages 87-109, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-33149-6_5
    DOI: 10.1057/9781137331496_5
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