A. Hayek (1899-1992)
University of Hartford, Hartford, Connecticut
(below left) represent three successive versions of capital-based
The original show was created in early 1999, when the end of the
boom was not yet in sight and when Bill Clinton had almost two years
of his second term.
Consistent with the Mises-Hayek theory of the business cycle, the
analytics demonstrate the inevitability--but not the timing--of the
bust. Part V of the original show depicts Bill Clinton still in
when the bust comes.
In 2003 I created a second edition of the show, mainly to add some
features in the early sections and additional explanatory text
I also made changes in Part V to reflect the fact that George W.
Bush was in office when the downturn came.
In 2006, I created a third edition---a total remake of the show using
2003 PowerPoint software. I also created a second show to contrast the Keynesian
and Hayekian frameworks. And I tweaked both of thise shows in