Philipp Bagus

In this review written with David Howden we critizise Shiller´s book on the subprime crisis: THE SUBPRIME SOLUTION: HOW TODAY’S GLOBAL FINANCIAL CRISIS HAPPENED, AND WHAT TO DO ABOUT IT. BY ROBERT J. SHILLER. PRINCETON, N.J.: PRINCETON UNIVERSITY PRESS, 2008. It was published in The Quarterly Journal of Austrian Economics 12, No. 1 (2009): 81–87. While Shiller names some psychological effects that have affected the housing bubble he does not see its monetary origins.

This review was published in Procesos de Mercado: Revista Europea de Economía Política, 3 (2) 2006: 285-294.
While both the Austrian and Chicago schools are commonly associated with free-market ideals, there have been rivalry and lively discussions between them. In Vienna & Chicago: Friends or Foes?, Mark Skousen asks whether the two schools are separated by an unbridgeable difference or if, rather, they can become closer allies. After providing an