A full-employment policy produces unemployment. Keynesian economics became the dominant theory wherein inflation was endorsed as a method of increasing aggregate demand which should boost employment.

Austrian Economics

These four lectures were delivered to the Department of Economics at the University of Colorado in the 1970s, and feature Friedrich Hayek, Israel Kirzner and Ludwig Lachmann. Special thanks to Mr. Fred Glahe for his generous donation of these recordings to the Mises Institute.Download the complete audio of this event (ZIP) here.

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Austrian Economics

Austrian Economics

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