Beware the Tech Bubble—But Stay Calm

Wall Street Journal ^ | 12/30/2013 | Farhad Manjoo

[Beagle8U]

Thanks. I downloaded Apache Open-Office.

[BfloGuy]

oh my you really are delusional…. business cycles have been with us since the beginning of commerce

I once had the delusion that people participated on FreeRepublic to learn. But my delusions aside, it's a widely-held and long-established economic theory.

[Nifster]

well your definition of widely established and long held is dicey at best. The Austrian theory does not government intervention at all. It is a purely theoretical explanation of boom and bust. Other economic theories deal with boom and bust as well.

The closest thing to an Austrian model was Singapore and even they go through boom and bust cycles. Like all things academic, reality supersedes it

[BfloGuy]

The Austrian theory does not government intervention at all.

Well, I'm guessing at the missing verb, but it most certainly does cite (?) government intervention. Central banks are created by government.

It is a purely theoretical explanation of boom and bust.

Of course, it's theoretical. Economics is theoretical. It is not physics and cannot be reduced to mathematical equations; it's more akin to sociology. Economics is a description of human behavior.

The closest thing to an Austrian model was Singapore and even they go through boom and bust cycles.

I dispute your example. It may be one of the more "free market" examples, but in what manner does it approach an Austrian model?

Look. If you really are interested in business cycle theory, read up on the Austrian Business Cycle Theory. I provided a Wikipedia summary for brevity and convenience. But there are dozens and dozens of entire books devoted to the topic and I've found the Austrians to have the only logical and consistent theory of booms and busts.

[Lurkina.n.Learnin]

bump