According to Treasury Secretary Timothy Geithner, Federal Reserve policy was “too loose for too long.” Some of us see Geithner’s remark as both a mea culpa on the part of the federal government and a confirmation of Austrian business-cycle theory. A more general examination of Geithner’s remarks on the subprime boom and bust, however, reveals the influence of Keynes, rather than Hayek. FULL ARTICLE
Source link: http://archive.mises.org/10035/secretary-geithner-hayekian-or-keynesian/
Secretary Geithner: Hayekian or Keynesian?
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