To: JasonC
The goal is not to abolish the cycle Despite what you claim, the Austrians do not claim to be able to abolish the business cycle. They merely claim that inflationary policies worsen the malinvestment that does occur as well as picking the pockets of innocents.
To: AndyJackson
False, I can give you chapter and verse from "theory of money and credit". Mises claimed the cycle is purely due to monetary distortions and would not arise if his favorite policy of 100% gold backing for all fiduciary media were adopted. Moreover, his acolytes at Mises.org maintain the same position to this day. I've had the argument with them, at great length, you can't pretend to tell me they don't believe it.
283 posted on
03/13/2008 3:34:12 PM PDT by
JasonC
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