Joseph Calandro Jr.



Articles by Joseph Calandro Jr.

The Lords of Easy Money, The Price of Time and Austrian Business Cycle Theory

Two books have recently been published on post-2007-2008 financial crisis history. The first is The Lords of Easy Money: How the Federal Reserve Broke the American Economy by Christopher Leonard and it is my favorite of the two. Mr. Leonard describes the post-crisis financial environment extremely well in a way that is consistent with Austrian Business Cycle Theory (ABCT) without naming it. I expected this as the author is a journalist writing for a mass audience rather than a financial professional.The second book is The Price of Time: The Real Story of Interest by Edward Chancellor. This book is significant given its title, subject matter (interest rates history) and its recent distinction of being awarded the 19th annual Hayek Book Prize by the Manhattan Institute. Given the economic

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