“The Cluster of Errors” — The Austrian Theory of Boom and Bust (Part III of III)

“Econ Stories” is back at it again with a new video. This time they explain the Austrian theory of the business cycle. What I like most about this discussion is that they don’t claim that 100% of the disruptions in the market are caused by the Federal Reserve. Instead, they give a very honest outline of the theory and how it is utilized to explain the current recession.

The video is below, and it is very educational.