Understanding the Boom & Bust Cycle

Understanding the Boom & Bust Cycle

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Why do recessions occur in capitalist economies on a recurrent basis? Is there a single explanatory cause?

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In this 5-session course on the Boom and Bust Cycle, emeritus professor of Economics Dr. Fred Foldvary investigates the link between real estate and economic downturns otherwise known as business cycles. The course will revisit Homer Hoyt’s pioneering work as well as the role of money and interest rates in causing land bubbles.

Session 1: Real estate and the business cycle

Session 2: Mason Gaffney on downturns

Session 3: Homer Hoyt and the cycle

Session 4: Money, interest, and the cycle

Session 5: American land bubbles

Fred Foldvary is a retired professor of economics . He received his Ph.D. in Economics from George Mason University. Foldvary's scholarly interests include public finance, real estate economics, and social ethics. Foldvary is known for his research and publications on land value taxation, community associations, and business cycles. His books include The Soul of Liberty, Public Goods and Private Communities, Dictionary of Free-Market Economics, and The Depression of 2008. Besides his articles, Fred Foldvary has written columns for www.progress.org and is one the few economists who predicted the 2007 - 2008 financial crisis.

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