May 4, 2020
My guest this week is Mises Institute Senior Fellow and Austrian Economist, Dr Mark Thornton. Mark discusses the economic downturn we are currently in, and it's one that he and many other Austrian economists predicted. It wasn't caused by the coronavirus, although the virus may have been the straw that broke the camel's back. The symptoms of this bust have been in place much longer than the symptoms of the coronavirus. The fundamentals were weak, and the Federal Reserve, as usual, is the problem, not the cure. Dr. Thornton details what went wrong, what will make it worse, the systemic damage that the shutdown is causing, and the long term effects of this all. He also discusses what would help things and what we should've done from the start.
Read Mark's article here: https://mises.org/wire/bust-wasnt-caused-virus
Find more of Mark's writings and books here: https://mises.org/profile/mark-thornton
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