"There is only one difference between a bad economist and a good one: the bad economist confines himself to the visible effect; the good economist takes into account both the effect that can be seen and those effects that must be foreseen." Frederic Bastiat
«Modern Hayekian Macroeconomics» with Lawrence H. White
On this episode of the Hayek Program Podcast, Hayek Program scholar Lawrence H. White discusses the history of the field of macroeconomics, Austrian business cycle theory, and illustrates how Austrian economics can be inserted into modern macroeconomic theory.