Tuesday, Oct 24, 2006

The trade cycle

Googled: mechanism "expansion of credit": The Austrian Theory of the Trade Cycle

Interesting quote "If, on the contrary, the banks decided to halt the expansion of credit in time to prevent the collapse of the currency and if a brake is thus put on the boom, it will quickly be seen that the false impression of 'profitability' created by the credit expansion has led to unjustified investments"

Posted by thevillageoflisburn @ 02:25 PM (1874 views)
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