It's not hard to understand why so many people drop economics after taking an introductory mainstream course in the subject. The theory and the practice just don't fit. It doesn't make any sense. They think it's their fault — that they're not clever enough to understand it. So they abandon it and take their talents elsewhere. Had they taken an introductory course based on Austrian economics I daresay the outcome for most would have been different. What the Austrians say, in a nutshell is, cut intervention to a minimum and then just leave the thing alone. Unfortunately, government intervention in … Continue reading Understanding Austrian Business Cycle Theory