Talk:Austrian Business Cycle Theory

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Contents 1 The Great Depression 2 Central Banks 3 Copyvio 4 plagiarism

[edit] The Great Depression

Despite the fact that they disagree on the reasons, monetarists agree with austrians on what (who) caused the Great Depression:

Ben Bernanke: Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again.

http://www.federalreserve.gov/boarddocs/speeches/2002/20021108/default.htm

[edit] Central Banks

The role of central banks should be mentioned here somewhere, since the trade cycle first appeared with the creation of national monetary authorities (such as the Bank of england). Earlier cycles where highly localised and overinflating banks were punished by competition (ie: wildcat banks in the US), only wars and major political upheavals could affect time-preferences on a national or international scale prior to the onset of fiat currencies.

[edit] Copyvio

From the last paragraph in the "Theory" section:

Since it clearly takes very little time for the new money to filter down from business to factors of production, why don't all booms come quickly to an end?

This is a wholecloth rip from Murray Rothbard's America's Great Depression, as you can verify here. This sentence could probably be used as a quote, but it certainly shouldn't be uncited. It also makes me wonder how much of the article is plagiarized. DickClarkMises 21:17, 2 March 2007 (UTC)

[edit] plagiarism

This article has been plagiarized from an article at the Mises Institute website (especially the opening paragraph). See here. I am going to attempt to rewrite the article in order to make it not only respectful of copyright, but something resembling well-written. Life, Liberty, Property 02:20, 31 August 2007 (UTC)

Great, when are you going to start doing that? Four months later and it's still garbage. --76.224.69.130 (talk) 03:50, 24 November 2007 (UTC)