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False Boom and Bust

submitted by blankfist

1 decade 2 years 12 months ago

Are Austrians a broken clock that’s right twice a day (when there’s a bubble that busts)? Why do entrepreneurs continue to be fooled by manipulation of interest rates by the central bank?

In this EconStories mini-documentary, part III in our first series on the Mises/Hayek theory of boom and bust, Lawrence H. White addresses the expectations and the cluster of entrepreneurial errors that reveal themselves during a bust. [from: http://econstories.tv/2010/10/22/the-cluster-of-errors/]