From the great depression, to the Great Recession, with the many busts between, you can always bet that sometime in the forseeable future, people will be losing money en-masse. During this time millions have asked the question: Why must great economic booms be followed by a bust? And is there anything that can be done to prevent it?
As it turns out, the nobel-prize winning Austrian economist Frederick Hayek has an explanation, an explanation that sets the Austrian school apart from all other schools of economics. Coincidentally, he lived an afterlife with lord Keynes as a hip-hop artist.
Viewings
Fear the boom and bust https://www.youtube.com/watch?v=d0nERTFo-Sk
Hayek vs Keynes round 2 https://www.youtube.com/watch?v=GTQnarzmTOc&t=4s
Explanation of Business Cycle, from someone with an uncomfortably large face. https://www.youtube.com/watch?v=Log_dcRj7HI
Is another recession coming? https://www.youtube.com/watch?v=e3V4pBS5wLA
Listenings
Tom Woods on Rothbard’s “America’s Great Depression” https://www.youtube.com/watch?v=YC227n-zZSY
Readings
Business cycle theory brief explanation https://mises.org/library/austrian-business-cycle-theory-brief-explanation