In the aftermath of the Global Financial Crisis (GFC) 2007/2008 the sales of Hayek's (1944) Road to Serfdom quadrupled, a clear indication of renewed public interest in the views of (neo-) Austrian economists on macro-economic crises, especially financial crises. It is also true that several economists associated with the Austrian school, or those using neo-Austrian insights, *We are grateful to an anonymous referee for very helpful comments on to improve an earlier version of this paper in style and substance.