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Published 2018 by the Mises Institute. This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 4.0 International License.

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Mises Institute

518 West Magnolia Ave.

Auburn, Ala. 36832

mises.org

hardback edition: 978-1-61016-683-6

paperback edition: 978-1-61016-684-3

large print edition: 978-1-61016-685-0

epub edition: 978-1-61016-688-1

Contents

Foreword by Thomas E. Woods, Jr.

Introduction

Section 1: The Skyscraper Curse

1. What Is the Skyscraper Curse?

2. The History of the Skyscraper Curse Reexamined

3. Do You Have a Theory?

4. How To Get Milk

5. Cantillon Effects

6. Cantillon Effects in Skyscrapers

7. The Curse Misses New York. Is Auburn, Alabama, Next?

8. When Will the Next Skyscraper Curse Come?

9. It Is Not the Skyscrapers Fault

10. Should I Stay, or Should I Go?

11. Razorbacks and Wolverines

12. The Curse of the Federal Reserve

Section 2: And How Austrian Economists Predicted Every Major Economic Crisis of the Last Century

13. Who Predicted the Great Depression?

14. The New Economists and the Depression of the 1970s

15. The Return of the Austrians

16. Bubble-Bust in Japan

17. Who Predicted the Bubble? Who Predicted the Crash?

Bubble Predictions

Conclusions

Appendix: Some Other Predictions

18. Bull Market?

19. Housing: Too Good To Be True

More Greenspan

The Housing Bubble

Price Inflation Follows Monetary Inflation

The Dirty Secret

Do Housing Bubbles Burst?

20. The Economics of Housing Bubbles

What Causes Housing Bubbles?

What Goes Up…

… Must Come Down

Summary and Conclusions

Postscript—August 8, 2009

21. Is the Housing Bubble Popping?

Postscript

22. Making Depressions Great Again

23. String Theories

24. What Is Wrong with ABCT?

Criticisms of the Hydraulic Version of ABCT

The Rational-Expectations Critique—Why Can’t Entrepreneurs Learn?

What about Nineteenth-Century Panics?

What about Robert Murphy’s Prediction of Double-Digit Inflation?

25. Summary and Conclusion: End the Fed

Bibliography

Index

The Skyscraper Curse: And How Austrian Economists Predicted Every Major Economic Crisis of the Last Century

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