In the modern era, our generations have been plagued with a groaning instability. Every few years there is a new boom, a new inflation that eventually reduces our living standards and our policymakers are helpless to stop it. Here is why, and how we can stop it: 🧵 The Austrian Business Cycle Theory (or the ABCT) is a theory that explains why we have business cycles. These are distinct from economic progress, or recessions. Rather, business cycles are intrinsically related to unsustainable booms where the price quickly comes calling…