A great new paper is out, published by the National Bureau of Economic Research: The Great Depression as a Credit Boom Gone Wrong. Also new, but not free [for me, at least], is: Credit Booms Gone Bust. Anybody who gets it free minds sending it to me through email? If not, I will pay the 5 bucks. [:P]
In any case, for all those complaining that Austrian theory is not mainstream, it’s clear that Austrian theory of capital, credit and money is becoming more and more influential. By the way, one of the authors of the first paper is Barry Eichengreen, who is a professor of economics at UC Berkley. Yes, the sky really is falling.
EDIT: Actually, I just looked at the date for the first one and it’s September 2003. Nonetheless, the second one is from November 2009. [:P]