Independent Institute Research Fellow Robert P. Murphy talks about business cycles at the 2016 Challenge of Liberty Summer Seminar held at Santa Clara University, in Santa Clara, California.

00:10 Introduction
00:35 Outline of the lecture
01:48 The problem
04:40 Schools of Thought on Business cycles:
04:52 Keynesian
08:58 Monetarist
18:40 Austrian
19:39 Austrian business cycle theory
23:10 Sustainable vs unsustainable growth
30:26 Austrians predicted the housing crash

Robert P. Murphy is a Research Fellow at the Independent Institute, Research Assistant Professor with the Free Market Institute at Texas Tech University, President of Consulting by RPM, Senior Economist with the Institute for Energy Research, and Associated Scholar with the Ludwig von Mises Institute.

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