Date of Submission

Spring 2018

Academic Programs and Concentrations

Division of Social Studies; Economics

Project Advisor 1

L. Randall Wray

Abstract/Artist's Statement


The 2008 crash seemingly came as a shock to many, but some did predict it. Those that saw it coming highlighted the role of land speculation and real estate integrating those factors with time preferences and capital theory. This paper investigates the Austrian Business Cycle theory, Henry George’s Land Speculation theory, and the modern Geo-economics theory of land and business cycles. It then looks at a Georgist-Austrian synthesis of their business cycle and the historical evidence that supports it. I propose that business cycle theories must take into account the role of land and real estate within the cycle, and that real estate acts as an accurate predictor of oncoming recessions.

Open Access Agreement

On-Campus only

Creative Commons License

Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

This work is protected by a Creative Commons license. Any use not permitted under that license is prohibited.

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