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The Inflationary Boom of the 1920s
Manage episode 310825544 series 3074018
Contenido proporcionado por Mises Institute and Murray N. Rothbard. Todo el contenido del podcast, incluidos episodios, gráficos y descripciones de podcast, lo carga y proporciona directamente Mises Institute and Murray N. Rothbard o su socio de plataforma de podcast. Si cree que alguien está utilizando su trabajo protegido por derechos de autor sin su permiso, puede seguir el proceso descrito aquí https://es.player.fm/legal.
The Industrial Revolution and the development of the modern banking system were the two big things that happened in the Eighteenth Century in Britain. Why does the boom-bust cycle emerge? Is the cycle just a natural part of industry, or is it caused by the banking system?
The Austrian explanation of expanded bank credit not based upon private pools of savings is sound, unlike the Keynesian explanations of overproduction or under consumption. Inflation is an increase in the money supply.
From Murray Rothbard's 20th Century American Economic History lecture series.
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