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NOTE What theories opposed the currency schools' view of the business cycle?

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The opposition, people believe, no, no, there's something deep within the market economy that causes the business cycle.

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Speculation, animal spirits, as Keynes put it. Businessmen get optimistic, they can rush out and buy stuff and invest,

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and then one day they get pessimistic and they stop investing and this causes a depression.

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This sort of analysis now takes over. The Currency School is discredited and really dives out after 1844 until Mises revives it in 1912.

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Karl Marx now, of course, says, Karl Marx, by the way, taking basically the banking, the so-called banking school approach, the banking school approach,

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the opposition of the Currency School, which says that something deep within the market causes business cycles, of course latches onto this and says, yes, yes,

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is discredited. It's something within capitalism that causes business cycles and will intensify

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the pressures until the proletariat rise up and overthrow the capitalists.