“Accounting for the artificial boom and the consequent bust is not part of Keynesian income-expenditure analysis, nor is it an integral part of monetarist analysis. The absence of any significant relationship between boom and bust is an inevitable result of dealing with the investment sector in aggregate terms. The analytical oversight derives from theoretical formulation in Keynesian analysis and from empirical observation in monetarist analysis. But from an Austrian perspective, the differences in method and substance are outweighed by the common implication of Keynesianism and monetarism, namely, that there is no boom-bust cycle of any macroeconomic significance.”
Pages 136–137.
"Is Milton Friedman a Keynesian?" (1992)
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Roger Garrison 5
American economist 1944Related quotes

Lectures on Metaphysics and Logic: "6th Lecture on Metaphysics", p. 69, ed. 1871, Boston; partly reported in Austin Allibone ed. Prose Quotations from Socrates to Macaulay. (1903), p. 34

Source: Object-oriented design: With Applications, (1991), p. 37

“We will not return to the old boom and bust.”
Brown's 11th Budget Speech https://publications.parliament.uk/pa/cm200607/cmhansrd/cm070321/debtext/70321-0004.htm. 21 Mar 2007
Chancellor of the Exchequer
Variant: Under this Government, Britain will not return to the boom and bust of the past.
R.S. Lynd (1939) Knowledge of What? p. 15, cited in Karl William Kapp (1976), The nature and significance of institutional economics http://onlinelibrary.wiley.com/doi/10.1111/j.1467-6435.1976.tb01971.x/abstract. in: Kyklos, Vol 29/2, Jan 1976, p. 209
any data having geospatial referencing
Source: Research challenges in geovisualization (2001), p. 3