Tom Woods Explains Hayek & the Boom / Bust

A primer on Hayekian macro and the current economic crisis, from the author of Meltdown.

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Liberalism regards competition as superior not only because it is in most circumstances the most efficient method known but even more because it is the only method by which our activities can be adjusted to each other without coercive and arbitrary intervention of authority. — F. A. Hayek

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