"The Austrians were right" is a phrase we hear often now, and for good reason.
The housing bubble and bust were called by the Austrians and, essentially, no one else. The Austrians were right about the dot-com bubble and bust. The Austrians were right about the 1970s stagflation and explosion in the price of gold after the gold window was closed.
Source:
http://www.lewrockwell.com/rockwell/hazlitt-bretton-woods147.html
