6min chapter

The "What is Money?" Show cover image

Why Austrian Economists Didn’t See Bitcoin Coming with Vijay Boyapati (WiM324)

The "What is Money?" Show

CHAPTER

The Austrian Economics of the 2008 Financial Crisis

The Federal Reserve's balance sheet increased by about $4 trillion in 2008 and 2009. There was a general consensus among Austrian economists that they thought this would lead to hyperinflation of the US dollar and I guess presumably other fiat currencies. But your paper that you wrote in 2010 took a different opinion and you thought that that was not going to be the case, turns out you were right.

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