Using a recent Paul Krugman column as the jumping off point, the Mises Institute Academic Vice President Joe Salerno explains and defends Austrian business cycle theory.
Mentioned in the Episode and Other Links of Interest:
- The YouTube version of this interview
- Bob’s response to Krugman’s NYT piece
- Joe Salerno’s 2012 QJAE article responding to ABCT critics
- Joe Salerno’s previous appearance on the Bob Murphy Show ep. 16
- Bob’s critique of Selgin on Canadian fractional reserve banking
For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on Apple Podcasts, Google Podcasts, Stitcher, Spotify, and via RSS.
The Mises Institute exists to promote teaching and research in the Austrian school of economics, and individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. These great thinkers developed praxeology, a deductive science of human action based on premises known with certainty to be true, and this is what we teach and advocate. Our scholarly work is founded in Misesian praxeology, and in self-conscious opposition to the mathematical modeling and hypothesis-testing that has created so much confusion in neoclassical economics. Visit https://mises.org