It would be very hard to explain the current recession using Hayek’s macroeconomics in fewer words than has been achieved by Hayekian macroeconomist Brad DeLong:
After the most recent downturn, however .. things have been different. The downturn was not caused by a liquidity squeeze. The Federal Reserve cannot wave is wand and return asset . . . → Read More: HAYEK’S MACRO IS THE BEST EXPLANATION — BRAD DELONG
