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George Selgin on Booms, Busts, Monetarism, and Austrians

From time to time I encounter a blog post that is too important to include among others in my “Some Links” series.  Such posts deserve to be singled out and recommended without any dilution of any sort (even when, as is true today, I’ve no time to do other than to point to this post by George Selgin and say read it).  Read it carefully.  Read it carefully twice.  Perhaps thrice.  It’s that good.