The Austrian School Of Economics In The 21st Century

Author : Annette Godart-van der Kroon,Joseph Salerno
Publisher : Springer Nature
Page : 341 pages
File Size : 54,9 Mb
Release : 2023-01-06
Category : Business & Economics
ISBN : 9783031085024

Get Book

The Austrian School of Economics in the 21st Century by Annette Godart-van der Kroon,Joseph Salerno Pdf

This book provides an overview of the evolution and theories of the Austrian School of Economics and develops answers to current economic questions and the pressing problems of the 21st century from the Austrian perspective. Readers will learn about the fundamental ideas of the Austrian School, the current state of Austrian economics, and the intellectual figures and institutions that sustain it as a vibrant intellectual movement. International experts on Austrian economics cover topics such as the economic impact of pandemics, trade blocs, federalism and European integration, and the economic development of China. The book also discusses the influence of the Austrian School on modern economic thought and mainstream economics, as well as on policymakers. It will appeal to students and scholars of economics and to anyone interested in social and economic liberalism.

Author : H. Hagemann,T. Nishizawa,Y. Ikeda
Publisher : Springer
Page : 345 pages
File Size : 42,8 Mb
Release : 2010-05-28
Category : Business & Economics
ISBN : 9780230281615

Get Book

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 : Randall G. Holcombe
Publisher : Edward Elgar Publishing
Page : 160 pages
File Size : 45,8 Mb
Release : 2020-07-31
Category : Business & Economics
ISBN : 9781789909647

Get Book

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 : Federico Fernandez,Barbara Kolm,Victoria Schmid
Publisher : Unknown
Page : 128 pages
File Size : 44,9 Mb
Release : 2021
Category : Electronic
ISBN : 3902466200

Get Book

Austrian Economics 150 Years After Carl Menger by Federico Fernandez,Barbara Kolm,Victoria Schmid Pdf

Author : Thomas Mayer
Publisher : Routledge
Page : 204 pages
File Size : 55,6 Mb
Release : 2017-11-10
Category : Business & Economics
ISBN : 9781351685535

Get Book

Austrian Economics, Money and Finance by Thomas Mayer Pdf

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.

Author : Anonim
Publisher : Emerald Group Publishing
Page : 210 pages
File Size : 54,5 Mb
Release : 2016-05-13
Category : Political Science
ISBN : 9781786352736

Get Book

Studies in Austrian Macroeconomics by Anonim Pdf

Several of the papers in Advances in Austrian Economics Volume 21 focus on the differences between the US and Canadian experiences during the early 21st century, while other contributors offer critical extensions of Austrian monetary and business cycle theory.

Author : Eugen Maria Schulak,Herbert Unterköfler
Publisher : Ludwig von Mises Institute
Page : 0 pages
File Size : 52,5 Mb
Release : 2011-02
Category : Business & Economics
ISBN : 1610161343

Get Book

The Austrian School of Economics by Eugen Maria Schulak,Herbert Unterköfler Pdf

The Austrian School of Economics was founded by Carl Menger in Vienna during the last third of the nineteenth century. From that time until today, its vibrant teaching tradition has had a significant influence on the formation and further development of the modern social sciences and economics in Europe and the United States. Its research agenda was characterized by an astonishing multitude of diverse, and in some cases even contradictory, conclusions. All branches of the school shared the conviction that the subjective feelings and actions of the individual are those which drive economic activity. Based on this conviction, explanations for economic phenomena such as value, exchange, price, interest, and entrepreneurial profit were derived, and step by step expanded into a comprehensive theory of money and business cycles. Because of their subjectivist-individualistic approach, economists of the Austrian School regarded any kind of collective as unscientific in rationale. This led to fierce arguments with the Marxists, the German Historical School, and later with the promoters of planned economy and state interventionism. In the modern Austrian School of Economics, questions regarding knowledge, monetary theory, entrepreneurship, the market process, and spontaneous order placed themselves in the foreground. This book endeavors to trace the development of this multifaceted tradition, with all of its ideas, personalities, and institutions.

Author : Peter J. Boettke,Christopher J. Coyne
Publisher : Oxford University Press
Page : 656 pages
File Size : 52,7 Mb
Release : 2015-09-01
Category : Business & Economics
ISBN : 9780190259273

Get Book

The Oxford Handbook of Austrian Economics by Peter J. Boettke,Christopher J. Coyne Pdf

The Austrian School of Economics is an intellectual tradition in economics and political economy dating back to Carl Menger in the late-19th century. Menger stressed the subjective nature of value in the individual decision calculus. Individual choices are indeed made on the margin, but the evaluations of rank ordering of ends sought in the act of choice are subjective to individual chooser. For Menger, the economic calculus was about scarce means being deployed to pursue an individual's highest valued ends. The act of choice is guided by subjective assessments of the individual, and is open ended as the individual is constantly discovering what ends to pursue, and learning the most effective way to use the means available to satisfy those ends. This school of economic thinking spread outside of Austria to the rest of Europe and the United States in the early-20th century and continued to develop and gain followers, establishing itself as a major stream of heterodox economics. The Oxford Handbook of Austrian Economics provides an overview of this school and its theories. The various contributions discussed in this book all reflect a tension between the Austrian School's orthodox argumentative structure (rational choice and invisible hand) and its addressing of a heterodox problem situations (uncertainty, differential knowledge, ceaseless change). The Austrian economists from the founders to today seek to derive the invisible hand theorem from the rational choice postulate via institutional analysis in a persistent and consistent manner. Scholars and students working in the field of History of Economic Thought, those following heterodox approaches, and those both familiar with the Austrian School or looking to learn more will find much to learn in this comprehensive volume.

Author : Daniel J. D'Amico,Adam G. Martin
Publisher : Emerald Group Publishing
Page : 178 pages
File Size : 49,5 Mb
Release : 2019-10-28
Category : Business & Economics
ISBN : 9781789739374

Get Book

Assessing Austrian Economics by Daniel J. D'Amico,Adam G. Martin Pdf

Here, leading economists explore whether Austrian economics is still relevant today. Starting with Peter Boettke’s lead essay, “What is Wrong with Austrian Economics?”, chapters include an array of perspectives responding to this question, ranging from economics, to intellectual history, to political science, and to philosophy.

Author : Fernandez Federico,Kolm Barbara,Schmid Victoria
Publisher : Unknown
Page : 128 pages
File Size : 54,6 Mb
Release : 2020
Category : Electronic
ISBN : 3902466170

Get Book

The Indispensability of Freedom by Fernandez Federico,Kolm Barbara,Schmid Victoria Pdf

Author : Richard M Ebeling
Publisher : Routledge
Page : 373 pages
File Size : 54,9 Mb
Release : 2009-12-30
Category : Business & Economics
ISBN : 9781135172220

Get Book

Political Economy, Public Policy and Monetary Economics by Richard M Ebeling Pdf

Austrian economist, Ludwig von Mises, was one of the most original and controversial economists of the 20th century, both as a defender of free-market liberalism and a leading opponent of socialism and the interventionist-welfare state. He was both the grant designer of a political economy of freedom and a trenchant, detailed critic of government regulatory and monetary policies in the first half of the 20th century. This fascinating book explores the cultural currents of anti-Semitism in Austria before and after the First World War that Mises confronted as an Austrian Jew; his analysis of Austria-Hungary’s establishment of a gold standard; Mises’ multi-sided activities in the years after the World War I in stemming a hyperinflation, opposing government fiscal mismanagement, and resisting misguided policies during the Great Depression; and his analysis of how Europe plunged into World War II and the policies to restore freedom and prosperity in the post-war period. It also discusses the confrontation between the Austrian Economists and the Keynesians over the causes and cures for the Great Depression, as well as how Mises’ "Austrian" approach to money and the business cycle contrasted with both the ideas of Joseph A. Schumpeter and the Swedish Economists of the interwar period. This volume breaks new ground in placing Ludwig von Mises’ many original views on political economy, public policy and monetary economics in the historical context of his time, especially during the interwar period when he was a senior economic analyst for the Vienna Chamber of Commerce and after his arrival in America during World War II. The book will therefore be of interest to students and researchers in monetary economics, political economy, expectations theory and the market process, and the history of economic thought.

Author : F. A. Hayek
Publisher : University of Chicago Press
Page : 292 pages
File Size : 40,7 Mb
Release : 2012-09-21
Category : Business & Economics
ISBN : 9780226321165

Get Book

The Fortunes of Liberalism by F. A. Hayek Pdf

From a Nobel Laureate economist, essays on classical liberalism as illustrated by the Austrian school of political economy. The Reagan and Thatcher “revolutions.” The collapse of Eastern Europe dramatically captured in the tearing down of the Berlin Wall. F. A. Hayek, “grand old man of capitalism” and founder of the classical liberal, free-market revival which ignited and inspired these world events, forcefully predicted their occurrence in writings such as The Road to Serfdom, first published in 1944. Hayek’s well-known social and political philosophy—in particular his long-held pessimistic view of the prospects of socialism, irrefutably vindicated by the collapse of the Eastern bloc—is fully grounded in the Austrian approach to economics. In this collection, Hayek traces his intellectual roots to the Austrian school, the century-old tradition founded at the University of Vienna by Carl Menger, and links it to the modern rebirth of classical liberal or libertarian thought. As Hayek reminds us, the cornerstone of modern economics—the theory of value and price—”represents a consistent continuation of the fundamental principles handed down by the Vienna school.” Here, in this first modern collection of essays on the Austrian school by one of its preeminent figures, is the genesis of this tradition and its place in intellectual history. Two hitherto unavailable memoirs, “The Economics of the 1920s as Seen from Vienna,” published here for the first time, and “The Rediscovery of Freedom: Personal Recollections,” available for the first time in English, make this collection invaluable for Hayek scholars.

Author : Wolfgang Grassl,Barry Smith
Publisher : Routledge
Page : 250 pages
File Size : 55,7 Mb
Release : 2010-10-22
Category : Business & Economics
ISBN : 9781136823558

Get Book

Austrian Economics (Routledge Revivals) by Wolfgang Grassl,Barry Smith Pdf

First published in 1986, this book presents a reissue of the first detailed confrontation between the Austrian school of economics and Austrian philosophy, especially the philosophy of the Brentano school. It contains a study of the roots of Austrian economics in the liberal political theory of the nineteenth-century Hapsburg empire, and a study of the relations between the general theory of value underlying Austrian economics and the new economic approach to human behaviour propounded by Gary Becker and others in Chicago. In addition, it considers the connections between Austrian methodology and contemporary debates in the philosophy of the social sciences.

Author : Roger Koppl
Publisher : Emerald Group Publishing
Page : 220 pages
File Size : 50,9 Mb
Release : 2008-11-12
Category : Business & Economics
ISBN : 9781848553316

Get Book

Explorations in Austrian Economics by Roger Koppl Pdf

Features papers presented at the inaugural Wirth Institute Conference on the Austrian School of Economics. This work explores issues in economic policy, applied economics, and pure theory from a variety of perspectives.

Author : Ludwig Mises
Publisher : Ludwig von Mises Institute
Page : 25 pages
File Size : 47,9 Mb
Release : 2007
Category : Business & Economics
ISBN : 9781610161268

Get Book

The Historical Setting of the Austrian School of Economics by Ludwig Mises Pdf