Introduction to Economics: Part 6

01.09.2010 - By Introduction to Economics: A Private Seminar with Murray N. Rothbard

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What causes business cycles? Keynesians say the cycles happen because the free market economy does not spend enough. Thus, pump spending in. Additionally, Keynesians say that animal spirits cause these cycles. Government must fix things. Nobody could understand Keynes' General Theory. What was simply obscure was wrongly considered deep.

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