From: Y Sent: Monday, February 05, 2018 5:28 PM To: wblock@loyno.edu Subject: Inflation and Business cycle Hi Professor Block, I have a question on money and the Austrian theory of the business cycle. Bitcoin currently has a yearly inflation rate of 3.98% and that will vary predictably into the future. Presumably, any currency including gold that is mined will also have a yearly inflation rate. Even in a system with full reserve banking and without a government mandated interest rate wouldn’t a business cycle result. Any amount of inflation by itself would have an impact on the interest rate and … Continue reading Austrian Business Cycle Theory (ABCT)