Category: Monetarism
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Econ in 20 minutes
tl;dr: great video on theories why humans make “bad” choices over and over again.
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What Causes Recessions
The four major theories of business cycles in relation to the Great Recession of 2008: Keynesian theory, real business-cycle theory, monetarist approaches, and the Austrian School of Economics. Each theory offers a unique perspective on the causes of the recession. Keynesian economics attributes the recession to a shortfall in aggregate demand, while real business-cycle theorists…