Austrian Theory of Trade Cycle.pdf

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1、ThEAUSTRiANThEORyofThETRAdECyclEANdOThERESSAYSludwiGVONMisESGOTTFRiEdHAbERlERMURRAyN.ROT~bARdFRiEdRic~A.HAyEkCoMpilEdbyRichARdM.EbEliNGWiT~ANINTRoduCTioNANdSUMMARybyRoqERW.GARRisON~LudwiGVONMisESINSTiTUTEINSTITUTEAubuRN,AlAbAMA}6849...BOlLudwi8vonMisesG

2、otifriedHaberlerFriedrichA.HayekMurrayN.RothbardDedicatedtothememoryofo.:eAlford,III,championoflibertyandtheAustrianSchoolCopyright©1996bytheLudwigvonMisesInstitute.OriginallypublishedbytheCenterforLibertarianStudies(1978).Allrightsreserved.Writtenpermi

3、ssionmustbesecuredfromthepublishertouseorreproduceanypartofthisbook,exceptforbriefquotationsincriticalreviewsorarticles.PublishedbytheLudwigvonMisesInstitute,Auburn,Alabama36849-5301.LibraryofCongressCatalogCardNumber:96-075695ISBN:0-945466-21-8Contents

4、Introduction:TheAustrianTheoryinPerspectiveRogerW"Garrison................................7The'~ustrian"TheoryoftheTradeCycleLudwigvonMises...............................25MoneyandtheBusinessCycleGotifriedHaberler...............................37Economi

5、cDepressions:TheirCauseandCureMurrayN.Rothbard.............................65CanWeStillAvoidInflation?FriedrichA.Hayek..............................93TheAustrianTheory:ASummaryRogerW"Garrison...............................111Index123AbouttheAuthors.....

6、..........................127TheLudwigvonMisesInstitute•5Introduction:TheAustrianTheoryinPerspectiveRogerWGarrisonhefouressaysinthisvolume,eachwrittenbyamajorTfigureintheAustrianschoolofeconomics,setoutandapplyadistinctivetheoryofthebusinesscycle.Thespa

7、nofyears(1932-1970)overwhichtheyappearedsawadramaticwaxingandthenwaningoftheprominence-bothinsideandoutsidetheeconomicsprofession-oftheAustriantheorJGottfriedHaberlerwroteinhis1932essaythatthetheory"isnotsowellknowninthiscountryasitdeservestobe"(pp.44).

8、AlthoughLudwigvonMisesofferednoassess•mentinthisregardinhisessa~heremarkedin1943abouttheeffectofthetheory'sgeneralacceptanceontheactualcourseofthecycle.Anticipatingakeyinsightinthemodernliteratureon"rationalexpectations,"Miseswro