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I have read and reread Tom Woods’s fantastic book, Meltdown. However, I’m stuck on a question concerning Austrian Business Cycle Theory. In particular, I would like to gain a better understanding of the impact of unutilized productive capacity in a market and its ability to absorb monetary...
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A friend of mine sent me the wiki "Critiques" of Austrian Business Cycle Theory. The red flag I noted was the line Nobel laureate Paul Krugman I was wondering if anyone had any thoughts on these points. I haven't read up on the crashes that they speak of - any thoughts on these "Critiques"...