BEGINNER

Depression

FEBRUARY 24, 2013

Broadly, a downturn in the economy where real (inflation adjusted) income shrinks. Depressions are commonly observed at the national level. Some major causes of depressions include misallocation of capital, increased uncertainty, and supply shocks.

Ben Powell - The Great Boom and Bust

 

Paul Cwik - Austrian Theory of the Business Cycle

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Are We Looking at the Wrong Depression?

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All too often people confuse cause and effect.

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The Great Depression According to Milton Friedman

The Great Depression Could Have Been Avoided if the Fed Had Not So Badly Botched Its Monetary Policy

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September 2014

For centuries, hierarchical models dominated human organizations. Kings, warlords, and emperors could rally groups--but also oppress them. Non-hierarchical forms of organization, though, are increasingly defining our lives. It's no secret how this shift has benefited out social lives, including dating, and it's becoming more commonplace even in the corporate world. But it has also now come even to organizations bent on domination rather than human flourishing, as the Islamic State shows. If even destructive groups rely on this form of entrepreneurial organization, then hierarchy's time could truly be coming to an end.
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