1. According to Woods, interest rates are not arbitrary numbers but rather perform a coordinating function for the production of goods across time. 2. Woods argues that when the Fed jolts money into the banking sector to push down interest rates, it isn't solving our problems but rather it is causing them. 3. To illustrate the problem of unsustainable investment, Woods cites the example from Mises of the bridge builder that runs out of material before reaching the other side of a river. 4. According to Woods, the recession of 1990 was the rst recession where housing starts did not decline. 5. Taylor argues that there is nothing about a market system that would lead to the problems of a general recession or depression. 6. Taylor shows that ination is the cause of the business cycle. 7. Ination is the natural outcome of a continuous policy of credit expansion. according to Taylor. 8. If we shift our preferences from future goods to present goods then the interest rate will fall. 9. Once the boom starts, efforts to push interest rates down by increasing the money supply will be ineffective as savers will demand an ination premium. 10. Why don't entrepreneurs stop borrowing when interest rates fall? Taylor claims that it is impossible for anyone to know whether this decline is due to more money or more saving. 11. The problem with entrepreneurs responding to lowered interest rates that result from credit expansion is that they will then use these funds to narrow and shorten the structure of production