So, my readers and have been sending me links and information on Austrian Business Cycle theory. Thank you for that.
One question, as I continue through what I have received. The textbook presentation of ABC refers to a lengthening of the production triangle and additional stages of production.
Is this meant to be taken literally? That is, can I go out into the world with a spyglass and ruler recording additional stages of production and then find that these stages will proliferate as interest rates fall?
Or, is this a metaphor for R&D generally?