Austrian Business Cycle Theory Arrives at the White House

May 13, 2009

by Gene Callahan

Brian Doherty quotes Treasury Secretary Geithner:

“I would say there were three types of broad errors of policy and policy both here and around the world. One was that monetary policy around the world was too loose too long. And that created this just huge boom in asset prices, money chasing risk.”

One Response to “Austrian Business Cycle Theory Arrives at the White House”

  1. Bob Murphy Says:

    But he made sure to exonerate the Federal Reserve from this criticism; the Fed tried to tighten when the rest of the world counteracted Greenspan’s prudence.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: