: "The Austrian business cycle theory (or ABCT) is an economic theory developed by the Austrian School of economics concerning how business cycles occur. The theory views business cycles as the inevitable consequence of excessive growth in bank credit, exacerbated by inherently damaging and ineffective central bank policies, which cause interest rates to remain too low for too long, resulting in excessive credit creation, speculative economic bubbles and lowered savings."
Posted on: Sat, 21 Sep 2013 23:44:47 +0000
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