Invitation from Jeff Hummel
One of my first academic articles, published over twenty-five
years ago in REASON PAPERS, was a critique of Austrian
business cycle theory, a critique that in my opinion was never
adequately answered. Since then, in the course of my teaching,
I have dipped again into macroeconomics every decade or so.
Rest assured that none of the alternative theories has fared
much better. Indeed, because the business cycle remains the
great unresolved macro problem, it has now been shifted to the
back end of all the texts.
Recently, however, I have hit upon some fresh insights that may
point to a solution. I will present them at Dan Klein's Saturday
Night Anarchy Club in San Jose on October 25. I've
provocatively entitled my lecture "Fixing Austrian Business
Cycle Theory," and for details go to
http://www.sjsu.edu/stringham/snac/.
I hope you can attend. I would like to give economic literate
libertarians an opportunity to challenge and poke holes in my
ideas before I take them to a more general audience.