{
 "rec_id": "media-the-business-cycle-how-do-the-theories-of-mises-and-hayek-differ",
 "course": "the-business-cycle",
 "title": "How do the theories of Mises and Hayek differ?",
 "speaker": "Murray N. Rothbard",
 "source_file": "media/The Business Cycle/How do the theories of Mises and Hayek differ_ Murray N Rothbard.mp3",
 "model": "medium",
 "language": "en",
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 "duration_s": 35.5,
 "generated": "2026-08-06T00:15:25Z",
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 "text": "The Mises-Hayek approach then is a sort of public policy that emerges from the Mises-Hayek position. It's virtually the direct opposite of the Keynesian policy. In other words, the Keynesian policy is, if there's a recession you pump spending in or you pump money in, if there's an inflation you take money out. The Austrian view is, if there's an inflation, first of all, stop inflating, which means stop creating new money and credit through the government's controlled banking system. And if there's a recession, don't do anything about it and let it work itself out as quickly as possible.",
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   "text": "The Mises-Hayek approach then is a sort of public policy that emerges from the Mises-Hayek position.",
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   "text": "In other words, the Keynesian policy is, if there's a recession you pump spending in or you pump money in,",
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