First, LK talks about the differences between Hayek and Mises on business cycle theory.
Second, Ryan Murphy has some really great thoughts up on ABCT and QEII. Everyone should read through it carefully. Ryan can correct me if I'm wrong, but I think Garrison offers this to us on pages 161-163. This section of my book is laced with outraged margin notes. The reason, as you might guess, is his neglect of the liquidity preference theory of interest in presenting the Keynesian argument, which allows him to easily refute it later on.
What is new that Ryan brings to the discussion, I think, is thinking about these dynamics in the context of QEII, IOR, and money demand.
UPDATE: Ryan shares these thoughts over email - "Garrison had the supply curve moving rightwards because they were increasing savings at the expense of consumption (I, too, see no reason for this to screw things up). What I have is a leftward shift in the supply of loanable funds as consumers build up greater cash reserves. Or in the case of today, banks continually stockpiling money so they can earn more interest."
Off to Romania
1 hour ago