“Can Austrian Theory Explain Construction Employment?” – Robert Murphy
“As a service to readers of the Mises Daily, I immerse myself in the sometimes-stultifying skirmishes of the economics blogosphere. Recently, those arguing that the solution to our current economic woes involves a pumping up of “aggregate demand” seem to have scored a major victory over the economists who believe the housing boom led to real resource misallocation. Although the Austrians are not mentioned by name in this dispute, the validity of the Mises-Hayek theory of the business cycle is clearly in question.” Read more.
“Can Austrian Theory Explain Construction Employment?”
Robert P. Murphy
Mises Daily, January 19, 2011.
Image by m_bartosch / FreeDigitalPhotos.net.
