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Although the Austrian school of economic thought sometimes called the Vienna school, shares with neoclassical economics a focus on the actions of the individual actor, it distinguishes itself most from this more orthodox perspective with its influential u tri n Business Cycle Theory (ABCT). ABCT represents an attempt by the school's theorists to explain the "boom and bust" cycle in modern economies. Proponents of the ABCT claim that Economic recessions will not occur in a purely free market system because it is highly unlikely that a preponderance of business leaders and entrepreneurs will simultaneously engage in risky economic. Thus, economic downturns must instead result from unnatural interference with the economic system. The CT aims that his interference comes in the form of banks artificially manipulating interest rates. Economists from the Austrian fool contend that bank, by creating new money, drive down interest, which fools investors into thinking that the supply of saved funds is larger than it actually is. This misapprehension on of reality causes businesses and entrepreneurs to focus their energies on investment, which causes e economy to shift from emphasizing consumer goods to capital goods. For a short while, the economy booms. However, the investors soon find that their peculation was based on incorrect assumptions about the economy and has resulted in an increase in production or which there is no comp able demand from consumers. A recession then occurs as the economy attempts to correct itself after this period of wasteful investment. ABCT has received a fair share of criticism. Most problematically, the theory requires businesspersons and entrepreneurs o continually act irrationally by making unsound investments during periods of low in interest rates. However, ABCT and the Austrian school in general have remained influential in economic circles e o their emphasis on the time references of individuals. While neoclassical economists make use of the Idea of time references in some economic lyses, the Austrian school makes time preferences a major focus of its theoretical investigations, leading to a number of in resting hypotheses about economic activities. The author of the passage is primarily concerned with .... A. proposing a new theory of boom and bust cycles in economics B. questioning the validity of a discipline's theoretical focus C. drawing a key distinction between competing schools of economic thought D. providing an overview of a significant theory from an economic school E. contrasting two different theories about the nature of economic recessions

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