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This "Fear the Boom" - The Austrian Theory of Boom and Bust with Lawrence H. White instructional video also includes:
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Why were aggregate swings in the economy and business cycles more pronounced (i.e. "boom and bust") in heavy industries in the nineteenth century? Discover the Austrian capital theory as Friedrich Hayek elaborated it through an interview with American economics professor Lawrence H. White.
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CCSS:
Adaptable
Concepts
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Classroom Considerations
- The speaker uses an extensive vocabulary in order to describe the Austrian theory of a business cycle, which may require frequent clarification for students. Consider pausing at various points throughout the video to further explain concepts
- This resource references scenes from another series of videos in which economic concepts are conveyed through a satirical music video. Some allusions to alcohol consumption are included
- This video is hosted on YouTube
Pros
- Incorporates graphics and entertainment scenes to help illustrate concept
- Speaker and video break down the subject matter in a visual and engaging way
Cons
- None