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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Sam Citron who wrote (9502)	11/26/1997 12:49:00 PM
From: Mike M2	Respond to of 18056

Sam, one of the most influential and respected economists of the 20's was Irving Fisher of Yale University he espoused the "new era" belief of permanent prosperity and that stock prices had reached a permanent plateau before and during the '29 crash. I have been told by other fans of the austrian School that Ludwig von Mises -the father of the modern school of Austrian economics predicted the crash of '29 and the Great Depression. Of course i am aware that this is heresay and as such it is not admissible in court but i beg the threads indulgence to allow me to post this tidbit. Mises states "Human Action" refering to the '29 crash "...the crash was the necessary outcome of the attempts to lower the rate of interest by credit expansion...." mike