“Austrian Business Cycle Theory: Its Failure to explain the Crisis of 2008,” October 18, 2010.I have added an updated list here of the Austrian books and articles where ABCT is given in its various versions:
“Kirzner on Austrian Business Cycle Theory,” May 30, 2011.
“ABCT and Idle Resources,” June 6, 2011.
“Austrian Business Cycle Theory: Epicycles on Epicycles,” June 6, 2011.
“The Natural Rate of Interest: A Wicksellian Fable,” June 6, 2011.
“Austrian Business Cycle Theory (ABCT) and the Natural Rate of Interest,” June 18, 2011.
“Mises’s “Evenly Rotating Economy” (ERE) and ABCT,” June 20, 2011.
“Austrian Business Cycle Theory: The Various Versions and a Critique,” June 21, 2011.
“Mises’s “Originary Interest Rate” Theory,” June 21, 2011.
“The Differences Between Mises and Hayek on ABCT,” June 23, 2011.
“Hayek and the Myth of Neutral Money,” June 23, 2011.
“Milton Friedman on ABCT,” June 24, 2011.
“There was no US Recovery in 1921 under Austrian Trade Cycle Theory!,” June 25, 2011.
“Vaughn on Mises’s Trade Cycle Theory,” June 29, 2011.
“Hayek on the Flaws and Irrelevance of his Trade Cycle Theory,” June 29, 2011.
“Mises’s Versions of ABCT,” July 1, 2011.
“ABCT and Full Employment,” July 1, 2011.
“Hayek’s Trade Cycle Theory and its Appeal to Socialists,” July 1, 2011.
“Robert P. Murphy on the Sraffa-Hayek Debate,” July 19, 2011.
“Bibliography on the Sraffa-Hayek Debate,” July 20, 2011.
“Robert P. Murphy on the Pure Time Preference Theory of the Interest Rate,” July 13, 2011.
“Lachmann on Trade Cycle Models,” August 27, 2011.
“David Glasner on Hayek versus Sraffa,” September 10, 2011.
“Hayek and the Concept of Equilibrium,” September 20, 2011.
“Hayek and Equilibrium as a Starting Point for an Austrian Trade Cycle,” September 21, 2011.
“ABCT without a Unique Natural Rate of Interest?,” September 22, 2011.
“Did Hayek Advocate Public Works in a Depression?,” September 25, 2011.
“ABCT and the Flow of Credit,” October 6, 2011.
“Michael Emmett Brady on Hayek’s Concept of Uncertainty,” October 11, 2011.
(1) The version of Mises in The Theory of Money and Credit (trans. J. E. Batson; Mises Institute, Auburn, Ala. 2009 [1953]), pp. 349–366. (It is unclear to me if this appears in the original German edition, Theorie des Geldes und der Umlaufsmittel [Munich and Leipzig, 1912] or the 2nd German edition published in 1924.)BIBLIOGRAPHY
(2) Mises’s version in Monetary Stabilization and Cyclical Policy (1928) in Mises 2006 [1978], The Causes of the Economic Crisis and Other Essays Before and After the Great Depression (Ludwig von Mises Institute, Auburn, Ala.), p. 99ff.
(3) Hayek’s essay Monetary Theory and the Trade Cycle (1929) [English trans. 1933 by N. Kaldor and H.M. Croome] in Hayek 2008: 1–130).
(4) Hayek’s paper on intertemporal equilibrium:
F. A. Hayek, 1984 [1928]. “Intertemporal Price Equilibrium and Movement in the Value of Money,” in R. McCloughry (ed.), Money, Capital and Fluctuations. Early Essays, Routledge & Kegan Paul, London.
(5) Hayek’s first version of ABCT from his LSE lectures in Prices and Production (London, 1931).
(6) Hayek’s 2nd edition of Prices and Production in 1935.
(7) Hayek’s second version of ABCT in Profits, Interest and Investment (London, 1939).
(8) Hayek’s discussion in The Pure Theory of Capital (London, 1941).
(9) The version of Mises in Human Action: A Treatise on Economics (Auburn, Ala., 1998), pp. 568–583.
(10) Rothbard’s development of ABCT in Man, Economy, and State: A Treatise on Economic Principles (Ludwig von Mises Institute, Auburn, Ala., 2004 [1962]), pp. 994–1008; and in Economic Depressions: Their Cause and Cure (Ludwig von Mises Institute, Auburn, Ala. 2009 [1969]).
(11) M. Skousen’s interpretation in The Structure of Production (New York, 1990).
(12) Roger Garrison in Gerald P. O’Driscoll and Mario J. Rizzo’s The Economics of Time and Ignorance (2nd edn; Routledge, Oxford, UK., 1996), pp. 198–213.
(13) Roger Garrison’s Time and Money: The Macroeconomics of Capital Structure (London and New York, 2000). A summary can be found in Garrison (1997).
(14) the exposition in Jesus Huerta de Soto, Money, Bank Credit and Economic Cycles (trans. M. A. Stroup; Ludwig von Mises Institute, Auburn, Ala, 2006), pp. 265–508.
Garrison, R. W. 1997. “Austrian Theory of Business Cycles,” in D. Glasner and T. F. Cooley (eds), Business Cycles and Depressions: An Encyclopedia, Garland Pub., New York. 23–27
Shouldn't you include Dr. Brady's working paper on F.A. Hayek and John Maynard Keynes's differing definitions of uncertainty? That's an excellent (implicit) critique of Austrian Business Cycle Theory and Austrian Capital Theory!
ReplyDeleteDo you mean:
ReplyDeleteMichael Emmett Brady, "Comparing J. M. Keynes’s and F. von Hayek’s Differing Definitions of Uncertainty as It Relates to Knowledge,"
http://ssrn.com/abstract=1751569
Yes, I did mean that one. I also meant referring to the post where you commented on it.
ReplyDeleteIt is now added.
ReplyDeleteThanks, LK! Will Dr. Brady be featured in another post for this upcoming year?
ReplyDeleteIf my workload permits, I will do one on Keynes's contributions to probablity theory. That will require some heavy reading and research, so, as I say, if "my workload permits".
ReplyDeleteI see. I'd advise getting the help of a mathematician specializing in probability theory should the time permit you to go on this endeavour.
ReplyDelete