• "Well written, well researched, and the thesis put forth is well argued.... Woods has opened up an area of historical analysis that should invite further study."
    -Journal of American History

  • "During these times that challenge our freedoms there is no one more qualified to make U.S. history relevant to the fight against big government than Thomas Woods."
    -Barry Goldwater Jr.
    Former Member of Congress

  • "I strongly recommend Woods's work."
    -The Honorable Ron Paul,
    U.S. House of Representatives

  • "Written with great clarity and fluency, making the complex philosophical and theological concepts approachable."
    -Journal of American Studies

  • "A must-read."
    -Barron's

  • "An excellent reading source for anyone interested in financial markets, and much more so for anyone interested in learning about capitalism without all the misinterpretations being thrown about in the financial media."
    -Asia Times

  • "Provocative, well-written, and deserves to be read."
    -Catholic Historical Review

  • "An engaging and important contribution to scholarship on the history of American Catholicism."
    -Journal of the Historical Society

  • "Woods and [co-author Kevin] Gutzman appeal to both left and right in this constitutionalist jeremiad…. The authors' exegeses of the Constitution and court decisions, heavy on original intent arguments, are lucid and telling."
    -Publishers Weekly

  • "A marvelous read. Every chapter taught me something new and unexpected."
    -Tom Bethell, senior editor,
    The American Spectator

  • "The hottest book today is Meltdown, by my friend Tom Woods."
    -Judge Andrew Napolitano, senior judicial analyst,
    FOX News Channel

  • "Should be required reading."
    -Economic Affairs (London)

  • "Woods, one of the best classical liberal [libertarian] scholars of his generation, has once more placed us in his debt with this lucid and tightly argued book."
    -David Gordon, The Mises Review

  • "Tom Woods is one of my dearest allies in the struggle against wrong-headed and dangerous economic policy."
    -Peter Schiff

What Happened to the Economy: An Austrian Overview

For the advanced student, here’s an excellent paper by Joe Salerno showing how Austrian business cycle theory makes sense of the recent boom-bust cycle that culminated in the disasters of 2008. For people who get the basic story of things, which I outlined in Meltdown, and who have a good grounding in the Austrian School, this paper is very helpful.

For the beginner to Austrian economics, don’t forget my Learn Austrian Economics page!

Unlearn the Propaganda!

  • jaffi411

    Thank you very much, Dr. Woods!  Also, a big thanks to Dr. Salerno for taking the great effort to produce this work.  Granted, I have not read it yet, but Salerno is probably one of, if not the best, banking and monetary theorists in the Austrian tradition around today.  He is right up there with past Austrians like Menger, Mises and Rothbard, on money.  

    Never do I not learn something new from Dr. Salerno.

  • Lou Bjostad

    I took Bob Murphy’s on-line class at Mises University about ABCT, Understanding the Business Cycle (ABC0200) a couple of years ago.  The class was excellent.  If he offers it again, well worth signing up for.

  • purple_persuader
  • purple_persuader

    This is how observant I am, It was Tom’s blog comment at LRC that led me to the HuffPo article, redness of face is slowly going away.

  • jaffi411

    AKA, facepalm

    It’s alright, dude. It happens.