EconStories.tv has three new videos available in which Lawrence H. White talks about the work of F A Hayek.
Part one, Fear the Boom, focuses on the unsustainability of a boom driven by artificially low interest rates and credit expansion by the central bank (the Fed) beyond the supply of genuine savings.
In part two, The Bust, Lawrence White offers his view on a Hayekian response to the bust phase of the Boom and Bust cycle and responds to the charge that F. A. Hayek was a “liquidationist.”
In part three, The Cluster of Errors, White addresses the expectations and the cluster of entrepreneurial errors that reveal themselves during a bust.
Lawrence H. White is a professor of economics at George Mason University.