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Business Cycles, Part II - Hayek, F A, and Klausinger, Hansjoerg (Editor)
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F. A. Hayek's pioneering work on business cycles is regarded as an important challenge to Keynesian macroeconomics. Business Cycles, Part I and Business Cycles, Part II bring together Hayek's work on what causes periods of boom and bust in the economy. Moving away from the classical emphasis on equilibrium, he demonstrates that business cycles are generated by the adaptation of the structure of production to changes in relative demand. Thus, when central banks artificially lower interest rates, the result is a ...

Business Cycles, Part II 2017, Liberty Fund

ISBN-13: 9780865979048

Trade paperback