Word: freiderich
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Another position belongs to Nobel Laureate Freiderich Hayek, Professor Murray N. Rothbard and the "Austrians," who agree that we have never had laissez-faire but use the Austrian theory of the business cycle in their analysis. Rothbard and Hayek argue that government intervention, especially the policy of the Federal Reserve in the late '20s, started the cycle which resulted in the Great Depression. In his book America's Great Depression. Rothbard details these interventions and their consequences. Today, Rothbard and Hayek argue, government polices in the '60's started a similar cycle that is the cause of current problems. Friedman...
...here from Germany at the invitation of Mr. John Rothschild and as the guest of the Student Forum, of New York. He is touring the country giving lectures on the various phases of the great "Youth Movement" that has recently swept over his country. Speaking of this movement Mr. Freiderich said...
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