Don Boudreaux on Macroeconomics and Austrian Business Cycle Theory

Don Boudreaux talks with host Russ Roberts about the microfoundations of macroeconomics and the Austrian theory of business cycles. Boudreaux draws on Erik Lindahl's distinction between micro- and macro-economics, emphasizing the difference between individual choices and the coordination of economic activity. Topics include the Austrian view of capital, investment, and monetary policy, the issue of aggregation, and the intellectual successes of the Keynesians.