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Author : Ludwig Von Mises Publisher : Ludwig von Mises Institute Page : 130 pages File Size : 49,5 Mb Release : 1978 Category : Economics ISBN : 9781610164993
The Oxford Handbook of Austrian Economics by Peter J. Boettke,Christopher J. Coyne Pdf
'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).
In this book the author argues the case for the revival of an important role for monetary causes in business cycle theory, which challenges the current trend towards favouring purely real theories.
Austrian and New Classical Business Cycle Theories by Rudy van Zijp Pdf
Austrian and New Classical Business Cycle Theories makes a major contribution to recent developments in macroeconomic theory. In the last two decades, economics has experienced a remarkable shift in focus. Keynesian macroeconomics, at least in its Hickian IS/LM version, has been the ruling orthodoxy since World War II. Although it was sometimes closely challenged by monetarism, it retained its dominant position until the 1970s. In that decade, however, monetarist criticism received support from two other research traditions - the Austrian School and New Classical Economics, which stressed the allocative efficiency of markets. Rudy van Zijp critically compares these two traditions. He builds his argument on very careful and sustained analysis of developments in the Austrian and new-classical explanations of cyclical fluctuations, dismissing the claim that the business cycle theories of the two traditions are simply variations on a theme. After a comprehensive description of what he terms the Hayek Programme and the Lucas Programme, he concludes by contrasting the different aims and methods of the two traditions.
Advanced Introduction to the Austrian School of Economics by Randall G. Holcombe Pdf
Presenting a concise overview of the post-war decline in popularity of the Austrian school of economics and its subsequent revival in the late twentieth century, this updated second edition offers a theoretical and historical introduction to the ideas of the Austrian school and its intellectually distinguishing qualities. This Advanced Introduction considers the field’s key originators and proponents and reflects on the acceleration in interest in the last two decades.
Author : Ludwig Von Mises Publisher : Ludwig von Mises Institute Page : 507 pages File Size : 52,5 Mb Release : 1953 Category : Credit ISBN : 9781610163224
Author : Thomas C. Taylor Publisher : Ludwig von Mises Institute Page : 100 pages File Size : 43,8 Mb Release : 1980 Category : Austrian school of economics ISBN : 9781610164245
Author : F. A. Hayek Publisher : University of Chicago Press Page : 303 pages File Size : 47,7 Mb Release : 2012-01-27 Category : Business & Economics ISBN : 9780226320465
“The two Business Cycles volumes bring together” the Nobel Laureate economist’s “most substantial contributions to technical economics” (Roger W. Garrison, Auburn University). In the years following its publication, F. A. Hayek’s pioneering work on business cycles was regarded as an important challenge to what was later known as Keynesian macroeconomics. Today, as debates rage on over the monetary origins of the current economic and financial crisis, economists are once again paying heed to Hayek’s thoughts on the repercussions of excessive central bank interventions. The latest editions in the University of Chicago Press’s ongoing series The Collected Works of F. A. Hayek, these volumes bring together Hayek’s work on what causes periods of boom and bust in the economy. Moving away from the classical emphasis on equilibrium, Hayek demonstrates that business cycles are generated by the adaptation of the structure of production to changes in relative demand. Thus, when central banks artificially lower interest rates, the result is a misallocation of capital and the creation of asset bubbles and additional instability. Business Cycles, Part I contains Hayek’s two major monographs on the topic: Monetary Theory and the Trade Cycle and Prices and Production. Reproducing the text of the original 1933 translation of the former, this edition also draws on the original German, as well as more recent translations. For Prices and Production, a variorum edition is presented, incorporating the 1931 first edition and its 1935 revision. Business Cycles, Part II assembles a series of Hayek’s shorter papers on the topic. The two volumes of Business Cycles also include extensive introductions by Hansjoerg Klausinger, providing background on the evolution of Hayek’s thought.
Austrian Economics Re-examined by Gerald P O'Driscoll Jr,Mario Rizzo Pdf
Austrian Economics Re-examined: The Economics of Time and Ignorance is an expanded version of the 1996 edition of The Economics of Time and Ignorance. This work is a classic statement of the role of subjectivism, radical uncertainty and change through real time in Austrian economics specifically, and in modern economics more generally. The new book contains the full text and Introductions of the earlier edition as well as the comprehensive previously-unpublished essay "What is Austrian Economics?" and a new Introduction. The essay is a comprehensive overview of the central themes of the book from a somewhat different perspective than in the book itself. It supplements the analysis in the book. The new Introduction explains that the 2007-8 financial crisis and recent developments in behavioural economics have made the book more relevant than ever before. Austrian Economic Re-examined develops and systematizes the fundamental principles of the Austrian tradition to the analysis of rational expectations, business cycles, monetary theory competition and monopoly, and capital theory.
Author : Eugen von Böhm-Bawerk Publisher : London ; New York : Macmillan and Company Page : 488 pages File Size : 44,6 Mb Release : 1890 Category : Capital ISBN : HARVARD:HN2WQD
Eugen von Böhm-Bawerk discusses the history and principles of interest, offering piercing critiques of failed theories and implementations from past eras. The author's investigations range as far back as antiquity and the Middle Ages; how civilizations of old dealt - or failed to deal - with interest in concept and practice. Interest is earned on existing capital, without the owner of said capital engaging in work or activity, an example being money invested in government bonds. Why this income should exist is the initial question posed, and an answer is sought through investigating several facets of the economy. Böhm-Bawerk's thesis is lengthy and meticulous, ranging across theories of production, the uses with which capital can be employed, the relevance of labor and ideas put across by scholars. He investigates the relationship of interest to debt, exploring whether interest itself is a rent on capital, and what this means in the short and long term. The author is keen to address and debunk ideas, such as the Marxist notion that the interest earned with capital is a manifestation of worker exploitation. Published in the 1880s, Böhm-Bawerk's work was among the first to tackle the subject of interest while recognizing the significance of interest rates in the modern economy. His ideas would go on to inspire future works in the Austrian School of economics, influencing later thinkers such as Friedrich Hayek who elaborated upon related economic topics.
Austrian Economics in Transition by H. Hagemann,T. Nishizawa,Y. Ikeda Pdf
This book analyzes both the consistent and changing elements in the Austrian School of Economics since its foundation in the late 19th Century up to the recent offspring of this School. It investigates the dynamic metamorphosis of the school, mainly with reference to its contact with representatives of history of economic thought.
Author : Stefan E. Oppers Publisher : International Monetary Fund Page : 22 pages File Size : 40,8 Mb Release : 2002 Category : Business & Economics ISBN : UCSD:31822029883030
The Austrian Theory of Business Cycles by Stefan E. Oppers Pdf
This paper reviews the "Austrian" theory of the business cycle first proposed by Friedrich Hayek in the 1920s. His theory claimed that credit creation by monetary authorities would push investment beyond society's long-term willingness to save, creating a mismatch between supply and demand that would inevitably cause recession. The theory argued, moreover, that expansionary policies in recession could generally only postpone the necessary structural adjustment, making the subsequent correction more severe. Modern followers of this theory see Austrian features in a number of recent business cycles, including Japan in the 1980s and 1990s, and the more recent U.S. slowdown.