Austrian Economics, Money and Finance Mayer Thomas
Austrian Economics, Money and Finance Mayer Thomas The financial crisis has exposed severe shortcomings in mainstream monetary economics and modern finance. Instead, mainstream economists have closed…
Specifikacia Austrian Economics, Money and Finance Mayer Thomas
Austrian Economics, Money and Finance Mayer Thomas
The financial crisis has exposed severe shortcomings in mainstream monetary economics and modern finance. Instead, mainstream economists have closed ranks to defend existing theories and public authorities have expanded their interference in markets.This book investigates the problems associated with mainstream monetary economics and finance, and proposes alternatives based on the Austrian school of economics. It is surprising that these shortcomings have not led to a wider debate about the need to overhaul these theories.
In monetary economics, the Austrian school regards the creation of money by banks through credit extension as a key source of economic This school emanated from the work of the nineteenth-century Austrian economist Carl Menger and was developed further by Eugen von Bhm-Bawerk, Ludwig von Mises, and Friedrich August von Hayek.