New edition with an introduction by Roger Garrison and an index. Booms and busts are not endemic to the free market, argues the Austrian theory of the business cycle, but come about through manipulation of money and credit by central banks. In this monograph, Austrian giants explain and defend the theory against alternatives. Includes essays by Mises, Rothbard, Haberler, and Hayek. In his later years, Professor Haberler distributed many of these monographs to friends and associates.

This volume includes:
Introduction: The Austrian Theory in Perspective (Roger W. Garrison)
The “Austrian” Theory of the Trade Cycle (Ludwig von Mises)
Money and the Business Cycle (Gottfried Haberler)
Economic Depressions: Their Cause and Cure (Murray N. Rothbard)
Can We Still Avoid Inflation? (Friedrich A. Hayek)
The Austrian Theory: A Summary (Roger W. Garrison)