But Milton Friedman rejected their analysis, stating in 1998 that: “The Austrian business-cycle theory has done the world a great deal of harm.”

人们猜测奥地利和货币主义者志同道合，但是米尔顿 弗里德曼却于1998年驳回了上述猜想，他表示：“奥地利商业周期理论对世界危害巨大。”

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The business cycle was supposedly subdued, yet the world is in the deepest recession since the 1930s.

经济周期按理说是被控制住了，但是全世界都处于自20世纪30年代以来最严重的经济衰退。

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These are "The business cycle, effect of US economy on the world and the importance of the share market".

这意味着美国的借款在世界的大部分区域内实行循环，因此大多数经济依赖于这些贷款。

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Instead of offsetting or suppressing the American business cycle, events in the rest of the world could have amplified it and that in turn would have obliged the Fed to stop the expansion by raising interest rates.

ECONOMIST: Beyond the business cycle?

Central banks around the world seem to be doing so, making little effort to prevent it this time around, resigned to letting the business cycle play out.

FORBES: Prepare For Recession And Bear Market