Not enough bricks: monetary misperceptions and the UK housing boom

• Published in: Quarterly journal of Austrian economics Vol. 17; no. 1; p. 19
• Main Author: Evans, Anthony J
• Format: Journal Article
• Language: English
• Published: Auburn Ludwig von Mises Institute 01.04.2014
• Subjects: Aggregates; Analysis; Building materials; Business cycles; Dwellings; Economic conditions; Economic crisis; Economic theory; Entrepreneurs; Entrepreneurship; Houses; Housing; Housing developments; Housing prices; Narratives; Recessions; Studies; Television programs; United Kingdom > UK

This article analyzes the housing boom witnessed in the UK economy from 1994-2007 in light of the Austrian theory of the business cycle (ABC). Ludwig von Mises's parable of the "bricks" is utilized to provide empirical grounding for the theory, and the television series "Property...