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‪"The Cluster of Errors" - The Austrian Theory of Boom and Bust

Are Austrians a broken clock that's right twice a day (when there's a bubble that busts)? Why do entrepreneurs continue to be fooled by manipulation of interest rates by the central bank? In this EconStories mini-documentary, part III in our first series on the Mises/Hayek theory of boom and bust, Lawrence H. White addresses the expectations and the cluster of entrepreneurial errors that reveal themselves during a bust.


‪"Fear the Boom" - The Austrian Theory of Boom and Bust with Lawrence H. White

In this EconStories mini-documentary, economist and Hayek scholar Lawrence H. White provides an overview of the Mises/Hayek "Austrian" theory of Boom and Bust. Part one focuses on the unsustainability of a boom driven by artificially low interest rates and credit expansion by the central bank (the Fed) beyond the supply of genuine savings.


"Fear the Boom and Bust": Keynes vs. Hayek Rap Battle

If you enjoyed this video, you should watch this one next: by Emergent Order. Visit us at is a place to learn about the economic way of thinking through the eyes of creative director John Papola and creative economist Russ Roberts. In Fear the Boom and Bust, John Maynard Keynes and F. A.