Friday, February 12, 2010

Booms and Busts

Excellent economic video contrasting two key economists of the 20th century. While one is the prominent basis of all economic theory and taught in economic classes, the other is hardly known.

This describes the crisis we're in. The housing bubble and Wall Street are all blamed, but Hayek describes how the Fed has played the key role in creating the boom and bust cycles.  We need to learn from history.

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