4.7 • 4.3K Ratings
🗓️ 1 February 2010
⏱️ 77 minutes
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0:00.0 | Welcome to Econ Talk, part of the Library of Economics and Liberty. |
0:12.5 | I'm your host Russ Roberts of George Mason University and Stanford University's Hoover |
0:17.3 | Institution. |
0:18.7 | Our website is econtalk.org where you can subscribe, find other episodes, comment on this podcast, |
0:25.8 | and find links to other information related to today's conversation. |
0:29.9 | Our email address is mailadicontalk.org. |
0:33.6 | We'd love to hear from you. |
0:35.6 | Today is January 27, 2010, and my guest is Larry White, Professor of Economics at George |
0:44.4 | Mason University, and our topic is Hayek. |
0:47.6 | And in particular, Hayek's view of the business cycle and of money. |
0:51.3 | As listeners may know, Film Director John Popola and I have written a rap song about |
0:55.5 | Keynes and Hayek, which we'll play at the very end of this interview. |
0:59.6 | And you can watch the video at econstories.tv. |
1:03.1 | Given the release of the video, I thought it'd be good to delve into the thought of Hayek |
1:06.1 | a little deeper, and that's why Larry White is here. |
1:08.4 | Larry, welcome to Econ Talk. |
1:09.8 | Thanks, Russ. |
1:10.8 | Good to be here. |
1:11.8 | Let's start with the business cycle. |
1:13.3 | What did Hayek see as the cause of the business cycle of the booms and the busts? |
1:20.8 | Well he had two scenarios. |
1:23.6 | One was that the central bank just independently decided to cheap and credit, expand the supply |
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