Roger Garrison presents Hayekian business cycle theory in a FEE podcast from last year (mp3). Excellent stuff. Garrison gives his take on the size and scope of the present bust in the last section of his presentation. This is not to be missed analysis for those wanting to understand what we are looking at with the current economic crack up.
Extra credit: listen to Garrison then identify three fallacies in Greg Mankiw’s recent NY Times column.