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b'Steven Horwitz is a professor of economics at Ball State University and a senior affiliated scholar at the Mercatus Center at George Mason University. He joins the show to discuss monetary disequilibrium (the condition when the supply and demand for money are not aligned, which leads to either inflation or deflation). David and Steve also examine Austrian Business Cycle Theory \\u2013 a theory of how \\u201cmalinvestment\\u201d caused by bad policy leads to an unsustainable boom and inevitable bust. Steve also explains how monetary disequilibrium led to the Great Recession and offers some solutions for minimizing business cycles in the future. David\\u2019s blog: http://macromarketmusings.blogspot.com/ Steve Horwitz\\u2019s personal website: http://myslu.stlawu.edu/~shorwitz/ Steve Horwitz\\u2019s Mercatus profile: https://www.mercatus.org/steven-horwitz David\\u2019s Twitter: @DavidBeckworth Related links: *Microfoundations and Macroeconomics: An Austrian Perspective* by Steven Horwitz https://www.amazon.com/Microfoundations-Macroeconomics-Perspective-Steven-Horwitz/dp/0415569575 \\u201cAn Introduction to U.S. Monetary Policy* by Steven Horwitz https://www.mercatus.org/publication/introduction-us-monetary-policy'