Roger W. Garrison: Austrian Theory of the Trade Cycle

Professor Roger Garrison, the main macro-economist in the Misesian wing of the Austrian School of economics, presented a superb hour-long lecture last month, at the 2010 Mises University, on the Austrian Theory of the Trade Cycle.  In the lecture he employed a sequenced combination of insightful diagrams to explain the key differences between Austrian macroeconomics and Keynesian macroeconomics, and also explained why the Keynesian boom always turns into the Keynesian bust, and why and how the adoption of Austrian economics would prevent this destructive cycle:

[Look out for Alan Greenspan and Ben Bernanke making rogue appearances towards the end of the lecture.]

For anyone who wishes to examine his macroeconomic diagrams in more detail, Professor Garrison makes many of his University economics courses and PowerPoint presentations available for download at various locations within his home web page site.

Written By
More from Andy Duncan
BBC Newsnight: What do record gold prices tell us about the state of the world economy?
In frivolous mood a couple of weeks ago, I wrote the following...
Read More
One reply on “Roger W. Garrison: Austrian Theory of the Trade Cycle”
  1. says: Toby Baxendale

    It is fantastic that this is posted, Garrison is a great teacher who can communicate with no mumbo jumbo. I wish more of our legislators would listen to this, thanks Andy.

Comments are closed.