Tag Archives: Percent

Hayek, the Business Cycle and the Financial System

Posted on January 13, 2010 by Jonathan Finegold Catalán

In “Monetary Theory and the Trade Cycle” Hayek holds that the business cycle is caused by fractional-reserve banking, which is a natural credit organization formed out of the market. If this is the case, then it follows that economic cycles are an intrinsic part of capitalism. Continue reading →

Posted in Theory | Tagged 100, Austrian, banking, business, cycle, fractional, free, Friedrich, Hayek, Hundred, monetary, One, Percent, prices, production, Reserve, Theory, trade | 4 Comments

Tag Archives: Percent

Hayek, the Business Cycle and the Financial System

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