🚀 go-pugleaf

In article <37013@uflorida.cis.ufl.edu>, jfh@reef.cis.ufl.edu (James F. Hranicky) writes:
|> 
|> Anyone here heard of Ludwig von Mises? His theory of the business cycle
|> seems to be the only one which holds water:
|> 
|>   Government inflation of the money supply causes the boom, and
|>   when the inflation is ceased the recession occurs.

I am not a fan of L von M,  but admire his scholarship.  This misstatement of his
business cycle theory hardly does him justice.  IMHO his experience with the dis-
astrous German (and Austrian) inflation of the '20's biased him toward inflation-
induced cycle swings.  That notwithstanding,  his theory does not explicitly require
inflation for there to be (gov't induced) cycle swings.

Another unfortunate circumstance for his theories is that they are in part founded
on an objection to statistical methods which is not mathematically correct.
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