“Nowadays it is usual in economics to talk about the Austrian theory of the trade cycle. This description is extremely flattering for us Austrian economists, and we greatly appreciate the honor thereby given us. Like all other scientific contributions, however, the modern theory of economic crises is not the work of one nation. As with the other elements of our present economic knowledge, this approach is the result of the mutual collaboration of the economists of all countries.” Read more.

 

Richard Ebeling

Via the Ludwig von Mises Institute.