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One can always point to private schools in the poorest countries being cheaper and better than public schools, and more focused on the poor. Education is certainly a desired service, but in the more developed countries are the "free" schools available for everyone and tend to crowd out private schools despite lower quality. In the long term

"I have just finished reading the wikipedia version of the Panic of 1907, where the authors were convinced that a central bank was needed to avoid these kind of speculative crises. I wonder what the austrian school's answer to the cause of these crises are, and if there eventually is any litterature treating these topics?" You may also

Not to forget: You can also mention Reinhart and Rogoff's work This Time is Different , that shows how businessmen and economists happily throw away old standards and wisdom and embrace the next boom. (And it's a rather mainstream account, too - the authors with an IMF background are not Austrians.)

Okay, 1. and 2. should be sufficiently covered. 2. in particular forgets about the role of time - it can take years for a given phase of the business cycle to manifest, so by the time the rational businessmen are done ignoring the cheap money, they might as well be out of business; the more expensive production factors also tend to appear later in the

There are some official stats about how much companies invest into new venues and how much into the maintenance of the existing stock (which turns out to be the larger part). See here ; the reference may give you a more detailed breakdown.