A little light reading

For those of you still wanting to brush up on Austrian Business Cycle Theory (and you should), check out The Austrian Theory of the Business Cycle by Roger Garrison for a quick primer.

Also up (from Mises.org's Mises Blog) are articles from the Quarterly Journal of Austrian Economics (QJAE), including a very interesting one by Hayek (from 1968) titled "Competition as a Discovery Procedure", which is an important insight into the role and function of market activity (which is not simply to allocate goods, services, & funds, but to discover winners and losers, and then to react accordingly).

And since we're in the bust part of a classic credit-induced boom, I encourage everyone to read up on the definition and concept of malinvestment, as this will pop up time and again when trying to understand the roots of many common economic problems.

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