Download or read book Austrian Economics Money and Finance written by Thomas Mayer and published by Routledge. This book was released on 2017-11-10 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis has exposed severe shortcomings in mainstream monetary economics and modern finance. It is surprising that these shortcomings have not led to a wider debate about the need to overhaul these theories. 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. This school emanated from the work of the nineteenth-century Austrian economist Carl Menger and was developed further by Eugen von Böhm-Bawerk, Ludwig von Mises, and Friedrich August von Hayek. In monetary economics, the Austrian school regards the creation of money by banks through credit extension as a key source of economic instability. From this follows the need for a comprehensive reform of our present monetary system. In a new monetary order, money could be issued by both public and private institutions, and there would be no need for fractional reserve banking. Instead of creating money, banks would intermediate it. In finance, the Austrian school rejects the notion of rational expectations and measurable risk. Individuals use their subjective knowledge to gather and evaluate information, and they act in a world of radical uncertainty. Hence, markets are not "efficient" nor can portfolios be built on the basis of known probability distributions of asset prices as described in the modern finance literature. This book explores the need for a new theoretical foundation for asset pricing and investment management that will give practitioners more useful orientation.
Download or read book Banking and Monetary Policy from the Perspective of Austrian Economics written by Annette Godart-van der Kroon and published by Springer. This book was released on 2018-07-23 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses contemporary banking and monetary policy issues from the perspective of the Austrian School of Economics. Based on the heritage of the Austrian school, leading scholars and practitioners offer a coherent diagnosis and analysis of the factors leading to Europe’s current financial crisis. The first part of the book discusses Ludwig von Mises’s and Friedrich August von Hayek’s ideas on banking and monetary policy from both historical and economic standpoints. It includes contributions on Austrian monetary dynamics and micro-foundational business cycle theory, von Mises’s concepts of liquidity and solvency of fractional-reserve banks, and liberalism of Austrian economics. The second part analyzes the measures taken by the European Central Bank (ECB) in light of the ideas of von Mises and Hayek. It includes contributions on non-neutrality of money, ECB monetary policy, and the future of the ECB. The third and final part presents discussions on monetary reforms, including contributions on Bitcoins, Cryptocurrencies and anti-deflationist Paranoia.
Download or read book The Oxford Handbook of Austrian Economics written by Peter J. Boettke and published by Oxford Handbooks. This book was released on 2015 with total page 833 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'The Oxford Handbook of Austrian Economics' provides an overview of the main methodological, analytical, and practical implications of the Austrian school of economics. This intellectual tradition in economics and political economy has a long history that dates back to Carl Menger in the late nineteenth century. The various contributions discussed in this book all reflect this 'tension' of an orthodox argumentative structure (rational choice and invisible hand) to address heterodox problem situations (uncertainty, differential knowledge, ceaseless change).
Download or read book Ludwig Von Mises written by Israel Kirzner and published by Simon and Schuster. This book was released on 2023-10-10 with total page 117 pages. Available in PDF, EPUB and Kindle. Book excerpt: Israel Kirzner, a former student of Ludwig von Mises, looks at the influences of the economic debates in Europe on von Mises' thought, traces his theories as they developed in his writings, and discusses both critical and supportive commentators on von Mises.
Download or read book Economics for Real People written by Gene Callahan and published by Ludwig von Mises Institute. This book was released on 2002 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Austrian Economics written by Steven Horwitz and published by Cato Institute. This book was released on 2020-07-14 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: What if economics began with people? Choice is an essential feature of the human condition. Every time we embark on a given plan of action, big or small, we make a choice. Whereas many economists model people’s behavior using idealized assumptions, economists of the Austrian School don’t. The Austrian School of Economics takes people as they are and constructs economic theories by examining the logical structure of the choices they make. Austrian Economics: An Introduction book explains the Austrian School’s insights on a wide range of economic topics and introduces some of its key thinkers. It also explains the relationship between the Austrian School and mainstream economics and delves into the criticisms that Austrian School economists have mounted against communist and socialist economic thought.
Download or read book Money Sound and Unsound written by and published by Ludwig von Mises Institute. This book was released on with total page 646 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Austrian Economics in Debate written by Willem Keizer and published by Psychology Press. This book was released on 1997 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume demonstrates how the Austrian challenge, and the debates it inspires, can continue to benefit contemporary developments in micro- and macroeconomic theory, and can offer insights into other schools of thought.
Download or read book Mystery of Banking The written by Murray Newton Rothbard and published by Ludwig von Mises Institute. This book was released on 2008 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Austrian Economics and the Political Economy of Freedom written by Richard M. Ebeling and published by Edward Elgar Publishing. This book was released on 2003 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: He shows the continuities between the positive contributions of the classical economists and the Austrian's in contrast to the neoclassical conceptions of man, the market economy and theory-formation for policy applications. Particular emphasis is given to the Austrian view of the human actor as creative innovator and planner who changes his world to improve his circumstances in comparison to the neoclassical idea of man as a passive economizer within given constraints. The Austrian approach is applied to the problems of the regulated economy, socialist central planning, the welfare state, monetary policy, international trade, and the hundred-year conflict between classical liberalism and collectivism.
Download or read book Austrian School for Investors written by Rahim Taghizadegan and published by . This book was released on 2015-11-16 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: Insanity seems to rule the financial markets and many investors are driven by delusion and anxiety. May everything you thought you knew about investing be wrong? The Austrian School's approach provides the needed respite for investors caught in inflationary treadmills. Conventional investment experts often overlook economic developments which may become a hazard for mainstream investors. Instead, the Austrian School of Economics has proved itself as an independent approach beyond the interests of politicians and bankers. The financial system is shaking. This book presents new paths through the shaky grounds between the tectonic plates of inflation and deflation to both private and professional investors. "This book is a must-have for every responsible investor!" (Felix W. Zulauf, Investor) "I am grateful to the authors of this book for not only highlighting the fundamental principles of the Austrian School but also for showing how investors can make practical use of them. " (Dr. Marc Faber, Investor) "For the first time an extensive compendium has been published in which the theoretical foundations developed by the 'Austrians' have been made useful for the investor's practical needs. The authors develop a remarkable 'Austrian investment philosophy'." (Prof. Guido HUlsmann, University of Angers) "The Austrian School's perception helps us to see long-term patterns and opportunities that today are often hidden. [...] For the authors and their important work I hope for the widest possible audience of a bestseller." (Prince Philipp von und zu Liechtenstein, Chairman LGT Group)
Download or read book The Economic Theory of Costs written by Matthew McCaffrey and published by Routledge. This book was released on 2017-09-01 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: The theory of costs is a cornerstone of economic thinking, and figures crucially in the study of human action and society. From the first day of a principles-level course to the most advanced academic literature, costs play a vital role in virtually all behaviors and economic outcomes. How we make choices, why we trade, and how we build institutions and social orders are all problems that can be explained in light of the costs we face. This volume explores, develops, and critiques the rich literature on costs, examining some of the many ways cost remains relevant in economic theory and practice. The book especially studies costs from the perspective of the Austrian or “causal-realist” approach to economics. The chapters integrate the history of economic thought with contemporary research, finding valuable crossroads between numerous traditions in economics. They examine the role of costs in theories of choice and opportunity costs; demand and income effects; production and distribution; risk and interest rates; uncertainty and production; monopsony; Post-Keynesianism; transaction costs; socialism and management; and social entrepreneurship. Together, these papers represent an update and restatement of a central element in the economic way of thinking. Each chapter reveals how the Austrian, causalrealist approach to costs can be used to solve an important problem or debate in economics. These chapters are not only useful for students learning these concepts for the first time: they are also valuable for researchers seeking to understand the unique Austrian perspective and those who want to apply it to new problems.
Download or read book History of Money and Banking in the United States The Colonial Era to World War II A written by Murray Newton Rothbard and published by Ludwig von Mises Institute. This book was released on 2002 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Austrian Macroeconomics A Diagrammatical Exposition written by Roger W. Garrison and published by Ludwig von Mises Institute. This book was released on 1978 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Theory of Money and Credit written by Ludwig Von Mises and published by Ludwig von Mises Institute. This book was released on 1953 with total page 507 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Investing in the Age of Democracy written by Morten Arisson and published by Springer. This book was released on 2018-09-06 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a structured, deductive approach to Austrian investing, beginning with an analysis of the current investing paradigm. There are five economic concepts on which the Austrian School of Economics has a unique view: Entrepreneurship, Class Probability, Capital, the Interest Rate, and Institutions. This book explains, lesson by lesson, how each of theseshapes our thinking about investing. If we follow them through their logical consequences, they leave us with a unique approach to investing. Except for the theory of probability, there has not been a comprehensive analysis of the linkages between these concepts, when it comes to investing. Although they would have been obvious to the average investor before the age of democracy, since the French and American revolutions, government interventions have steadily transformed the way we think about them (and the way we invest). Above all, Entrepreneurship and Institutions are downplayed today, while investors use Case Probability, and confuse the concepts of Money and Capital. This book offers a historical review of these interventions, to shed light on how we went from what was common sense to the status quo. Offering a sometimes technical analysis, the book examines a series of fundamental investment fallacies, their origins and how not to fall for them.
Download or read book Ron Paul Vs Paul Krugman written by Jeremy R. Hammond and published by CreateSpace. This book was released on 2012-04-01 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do modern economies go through the “business cycle” of booms and busts? What caused the U.S. housing bubble that precipitated the financial crisis? Who correctly predicted it and who should we listen to for wisdom moving forward? Ron Paul vs. Paul Krugman is an examination of the root cause of the crisis as seen through the eyes of two prominent commentators on the subject, each representing a different school of economic thought. Congressman and presidential candidate Ron Paul is today perhaps the most visible proponent of the Austrian school, whose luminaries include Ludwig von Mises and Nobel Prize-winning economist Friedrich A. Hayek. Nobel Prize-winning economist and New York Times columnist Paul Krugman is today perhaps the most well-known voice for the Keynesian school, whose adherents espouse the theories of British economist John Maynard Keynes.A comparative analysis of these two schools of economic thought as applied to the financial crisis and as promulgated through the views of Ron Paul and Paul Krugman is instructive. Whose school offered more explanatory and predictive power? Whose diagnosis and prescriptions have been better suited to deal with the problem? Who should we listen to now?
