A BCT is not ABCT: A Rejoinder to Brian Simpson—Shawn Ritenour

“Brian Simpson (2017) in responding to my lengthy review of his two volume Money, Banking, and the Business Cycle, provides a welcome opportunity to identify the main distinctions between Simpson’s business cycle theory and Austrian business cycle theory (ABCT). Simpson’s earnest pleas to the contrary, I nevertheless remain unmoved that he advances our understanding of ABCT. In his response, Simpson asserts I made several errors in my initial review. In this response to Simpson, I will narrow the focus by only discussing our differences about the nature of the business cycle, as this is what I understand to be of most fundamental importance.”