Fred Foldvary’s rapid fire insights on the GFC are summarised in this excellent speech “Why the Predictable Crash of 2008 was not a Market Failure”. From money supply manipulations to bailouts to the needed remedy, Foldvary flies through the stages of the cycle that have brought us to where we are today. Hitting it hard and straight to the point, Foldvary explains how Austrian economics interprets money supply and how this can be linked with Georgist critiques of the land based economy.
Above is the main slide Fred refers to in terms of growth rates in the business cycle.
Stay tuned to the Renegade Economists this week for a fascinating interview with Fred Foldvary.