Professor Tullock on Austrian Business Cycle Theory
THE DYNAMICS OF INTERVENTION: REGULATION AND REDISTRIBUTION IN THE MIXED ECONOMY – ADVANCES IN AUSTRIAN ECONOMICS, Vol. 8, pp. 431-443, P. Kurrild-Klitgaard, ed., Elsevier Ltd., 2005
15 Pages Posted: 8 Jul 2011
Date Written: July 6, 2011
In "Why the Austrians Are Wrong About Depressions," Professor Tullock (1987, p. 73) makes some statements that are incorrect and others which, properly interpreted, refute or at least, fail egregiously to support, his thesis that the Austrian theory of the trade cycle is incorrect. We begin by considering one of Tullock's minor points in Section 2 and then consider his major point in Section 3. In Section 4 we take to task Tullock (1989), also on this same topic, and conclude in Section 5.
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