The Ordinary Economics of an Extraordinary Crisis

Boettke, Peter J.; Luther, William J.

The Ordinary Economics of an Extraordinary Crisis

MACROECONOMIC THEORY AND ITS FAILINGS: ALTERNATIVE PERSPECTIVE ON THE WORLD FINANCIAL CRISIS, Steven Kates, ed., Edward Elgar Publishing

19 Pages Posted: 19 Jan 2010

See all articles by Peter J. Boettke

Peter J. Boettke

George Mason University - Department of Economics; Mercatus Center at George Mason University

William J. Luther

Florida Atlantic University; American Institute for Economic Research

Date Written: 2010

Abstract

The authors offer perspective on the world financial crisis. Specifically, they claim it was a perfect storm of policy errors that caused the housing bubble and then perpetuated the recovery period into an over-extended recession.

Keywords: Financial Crisis, Austrian Business Cycle

JEL Classification: B53

Suggested Citation: Suggested Citation

Boettke, Peter J. and Luther, William J., The Ordinary Economics of an Extraordinary Crisis (2010). MACROECONOMIC THEORY AND ITS FAILINGS: ALTERNATIVE PERSPECTIVE ON THE WORLD FINANCIAL CRISIS, Steven Kates, ed., Edward Elgar Publishing , Available at SSRN: https://ssrn.com/abstract=1529570