Banking And Monetary Policy From The Perspective Of Austrian Economics

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Banking and Monetary Policy from the Perspective of Austrian Economics

Author : Annette Godart-van der Kroon
Publisher : Springer
ISBN 13 : 3319758179
Total Pages : 280 pages
Book Rating : 4.3/5 (197 download)

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Book Synopsis Banking and Monetary Policy from the Perspective of Austrian Economics by : Annette Godart-van der Kroon

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.

The Gold Standard

Author : Llewellyn H. Rockwell
Publisher : Ludwig von Mises Institute
ISBN 13 : 0945466110
Total Pages : 165 pages
Book Rating : 4.9/5 (454 download)

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Book Synopsis The Gold Standard by : Llewellyn H. Rockwell

Download or read book The Gold Standard written by Llewellyn H. Rockwell and published by Ludwig von Mises Institute. This book was released on 1992 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Money, Bank Credit, and Economic Cycles

Author : Jesús Huerta de Soto
Publisher : Ludwig von Mises Institute
ISBN 13 : 1933550392
Total Pages : 939 pages
Book Rating : 4.9/5 (335 download)

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Book Synopsis Money, Bank Credit, and Economic Cycles by : Jesús Huerta de Soto

Download or read book Money, Bank Credit, and Economic Cycles written by Jesús Huerta de Soto and published by Ludwig von Mises Institute. This book was released on 2009 with total page 939 pages. Available in PDF, EPUB and Kindle. Book excerpt: Can the market fully manage the money and banking sector? Jesus Huerta de Soto, professor of economics at the Universidad Rey Juan Carlos, Madrid, has made history with this mammoth and exciting treatise that it has and can again, without inflation, without business cycles, and without the economic instability that has characterised the age of government control. Such a book as this comes along only once every several generations: a complete comprehensive treatise on economic theory. It is sweeping, revolutionary, and devastating -- not only the most extended elucidation of Austrian business cycle theory to ever appear in print but also a decisive vindication of the Misesian-Rothbardian perspective on money, banking, and the law. The author has said that this is the most significant work on money and banking to appear since 1912, when Mises's own book was published and changed the way all economists thought about the subject. Its five main contributions: A wholesale reconstruction of the legal framework for money and banking, from the ancient world to modern times; An application of law-and-economics logic to banking that links microeconomic analysis to macroeconomic phenomena; A comprehensive critique of fractional-reserve banking from the point of view of history, theory, and policy; An application of the Austrian critique of socialism to central banking; The most comprehensive look at banking enterprise from the point of view of market-based entrepreneurship. Those are the main points but, in fact, this only scratches the surface. Indeed, it would be difficult to overestimate the importance of this book. De Soto provides also a defence of the Austrian perspective on business cycles against every other theory, defends the 100% reserve perspective from the point of view of Roman and British law, takes on the most important objections to full reserve theory, and presents a full policy program for radical reform. It could take a decade for the full implications of this book to be absorbed but this much is clear: all serious students of these subject matters will have to master this treatise.

Austrian Economics, Money and Finance

Author : Thomas Mayer
Publisher : Routledge
ISBN 13 : 135168552X
Total Pages : 298 pages
Book Rating : 4.3/5 (516 download)

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Book Synopsis Austrian Economics, Money and Finance by : Thomas Mayer

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.

Austrian Economics, Money and Finance

Author : Thomas Mayer
Publisher : Banking, Money and International Finance
ISBN 13 : 9780367888848
Total Pages : 204 pages
Book Rating : 4.8/5 (888 download)

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Book Synopsis Austrian Economics, Money and Finance by : Thomas Mayer

Download or read book Austrian Economics, Money and Finance written by Thomas Mayer and published by Banking, Money and International Finance. This book was released on 2019-12-12 with total page 204 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.

Three Essays in Monetary Theory

Author : Ludwig Van den Hauwe
Publisher : BoD – Books on Demand
ISBN 13 : 2810602212
Total Pages : 188 pages
Book Rating : 4.8/5 (16 download)

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Book Synopsis Three Essays in Monetary Theory by : Ludwig Van den Hauwe

Download or read book Three Essays in Monetary Theory written by Ludwig Van den Hauwe and published by BoD – Books on Demand. This book was released on 2009 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent events in international financial markets have revived the scientific interest in conceivable institutional alternatives to prevailing monetary arrangements. In the essays reprinted in this book, the author critically examines some of the more influential arguments which have been made in favour of decentralization in banking.

Money, Bank Credit, and Economic Cycles

Author : Jesús Huerta de Soto
Publisher : Ludwig von Mises Institute
ISBN 13 : 1610163885
Total Pages : 938 pages
Book Rating : 4.6/5 (11 download)

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Book Synopsis Money, Bank Credit, and Economic Cycles by : Jesús Huerta de Soto

Download or read book Money, Bank Credit, and Economic Cycles written by Jesús Huerta de Soto and published by Ludwig von Mises Institute. This book was released on 2006 with total page 938 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Austrian Theory of Free Monetary Institutions

Author : Martti Vihanto
Publisher :
ISBN 13 :
Total Pages : 142 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis The Austrian Theory of Free Monetary Institutions by : Martti Vihanto

Download or read book The Austrian Theory of Free Monetary Institutions written by Martti Vihanto and published by . This book was released on 1988 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Central Banking in Theory and Practice

Author : Alan S. Blinder
Publisher : MIT Press
ISBN 13 : 9780262522601
Total Pages : 116 pages
Book Rating : 4.5/5 (226 download)

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Book Synopsis Central Banking in Theory and Practice by : Alan S. Blinder

Download or read book Central Banking in Theory and Practice written by Alan S. Blinder and published by MIT Press. This book was released on 1999-01-07 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: Alan S. Blinder offers the dual perspective of a leading academic macroeconomist who served a stint as Vice-Chairman of the Federal Reserve Board—one who practiced what he had long preached and then returned to academia to write about it. He tells central bankers how they might better incorporate academic knowledge and thinking into the conduct of monetary policy, and he tells scholars how they might reorient their research to be more attuned to reality and thus more useful to central bankers. Based on the 1996 Lionel Robbins Lectures, this readable book deals succinctly, in a nontechnical manner, with a wide variety of issues in monetary policy. The book also includes the author's suggested solution to an age-old problem in monetary theory: what it means for monetary policy to be "neutral."

History of Money and Banking in the United States: The Colonial Era to World War II, A

Author : Murray Newton Rothbard
Publisher : Ludwig von Mises Institute
ISBN 13 : 1610164350
Total Pages : 512 pages
Book Rating : 4.6/5 (11 download)

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Book Synopsis History of Money and Banking in the United States: The Colonial Era to World War II, A by : Murray Newton Rothbard

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:

The Oxford Handbook of Austrian Economics

Author : Peter J. Boettke
Publisher : Oxford Handbooks
ISBN 13 : 0199811768
Total Pages : 833 pages
Book Rating : 4.1/5 (998 download)

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Book Synopsis The Oxford Handbook of Austrian Economics by : Peter J. Boettke

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).

Monetary Policy and The Subprime Crisis. An Austrian Approach

Author : Tino Förster
Publisher : GRIN Verlag
ISBN 13 : 3656737584
Total Pages : 40 pages
Book Rating : 4.6/5 (567 download)

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Book Synopsis Monetary Policy and The Subprime Crisis. An Austrian Approach by : Tino Förster

Download or read book Monetary Policy and The Subprime Crisis. An Austrian Approach written by Tino Förster and published by GRIN Verlag. This book was released on 2014-09-08 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2014 in the subject Economics - Monetary theory and policy, grade: 1,0, Martin Luther University, language: English, abstract: The role of central banks and monetary policy in modern economies is a highly controversial topic. This paper attempts to show the relationship between monetary policy and the development of economic crisis, especially the recent Subprime Crisis in the USA. For this purpose the first part of the paper examines the Austrian theory of the business cycle and its illustration, the capital-based macroeconomics model. According to the Austrian theory artificially low interest-rates are responsible for misallocations of resources within the in-tertemporal capital structure and, consequently, reoccurring fluctuations within the eco-nomic system. The second part of the paper applies the Austrian theory of the business cycle to the Sub-prime Crisis and investigates the role of the Federal Reserve System for the development of the crisis. Ultimately, this paper states that expansionary monetary policy and flawed government regulations were the cause for unbalanced changes in the American structure of production and the recession.

Banking, Currency, and Finance in Europe Between the Wars

Author : Charles H. Feinstein
Publisher : Clarendon Press
ISBN 13 : 9780191521669
Total Pages : 554 pages
Book Rating : 4.5/5 (216 download)

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Book Synopsis Banking, Currency, and Finance in Europe Between the Wars by : Charles H. Feinstein

Download or read book Banking, Currency, and Finance in Europe Between the Wars written by Charles H. Feinstein and published by Clarendon Press. This book was released on 1995-09-28 with total page 554 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial history of interwar Europe was dominated by catastrophic episodes of hyper-inflation, dramatic exchange rate crises, massive and destabilizing movements of gold and capital, and extensive banking failures. In their attempt to restore and sustain the gold standard as the basis of the international monetary system, many countries were compelled to resort to deflationary fiscal and monetary policies of exceptional severity. The policies thus adopted in the 1920s were a major cause of the Great Depression of 1929-33; and this in turn exerted a powerful influence on the subsequent political and economic history of the 1930s. This collection of essays is the work of an international network of economic historians from Europe and the United States convened by the European Science Foundation. It brings together, in an accessible style, current knowledge and understanding of the nature and effects of these developments in banking, currency, and finance in the interwar period. The topics are examined at three levels. In Part I a substantial introductory survey of the central issues over the entire period is followed by special studies of the banking crises, the global capital flows, and the interrelationship of economic and political policies, with each of these themes considered in an international perspective. Part II is devoted to illuminating comparative analyses of the financial and exchange policies of pairs of countries; France and Italy, Britain and Germany, Sweden and Finland, and Belgium and France. In Part III the essays move to the level of individual countries and each contributor explores topics such as the form and efficacy of official banking and monetary policies, the role of the central bank, movements in the money supply and prices, the relationship between the banks and the industrial sector, changes in exchange rates and foreign capital investment. The volume covers all the major countries, and also makes available the results of recent research on banking and finance in smaller countries, such as Spain, Austria, Norway, Poland, Portugal, Bulgaria, and Ireland. The questions addressed by this book, and the temes and patterns it reveals, are relevant both to economic and political historians of the years between the two world wars, and to those interested in contemporary banking and financial problems.

Austrian School of Economics: A History of Its Ideas, Ambassadors, and Institutions

Author :
Publisher : Ludwig von Mises Institute
ISBN 13 : 1610164989
Total Pages : 262 pages
Book Rating : 4.6/5 (11 download)

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Book Synopsis Austrian School of Economics: A History of Its Ideas, Ambassadors, and Institutions by :

Download or read book Austrian School of Economics: A History of Its Ideas, Ambassadors, and Institutions written by and published by Ludwig von Mises Institute. This book was released on with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Austrian School for Investors

Author : Rahim Taghizadegan
Publisher :
ISBN 13 : 9783902639332
Total Pages : 366 pages
Book Rating : 4.6/5 (393 download)

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Book Synopsis Austrian School for Investors by : Rahim Taghizadegan

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)

The Oxford Handbook of the Economics of Central Banking

Author : David G. Mayes
Publisher : Oxford Handbooks
ISBN 13 : 0190626194
Total Pages : 809 pages
Book Rating : 4.1/5 (96 download)

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Book Synopsis The Oxford Handbook of the Economics of Central Banking by : David G. Mayes

Download or read book The Oxford Handbook of the Economics of Central Banking written by David G. Mayes and published by Oxford Handbooks. This book was released on 2019-03-15 with total page 809 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The Handbook reflects the state of the art in the theory and practice of central banking. It covers all the essential areas that have come under scrutiny since the global financial crisis of 2007-9"--

The Austro-Libertarian Point of View

Author : Alan G. Futerman
Publisher : Springer Nature
ISBN 13 : 9811646910
Total Pages : 214 pages
Book Rating : 4.8/5 (116 download)

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Book Synopsis The Austro-Libertarian Point of View by : Alan G. Futerman

Download or read book The Austro-Libertarian Point of View written by Alan G. Futerman and published by Springer Nature. This book was released on 2021-11-01 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers several areas of economic theory and political philosophy from the perspective of Austrian Economics and libertarianism. As such, it deals with Epistemology and Methodology, Microeconomics, Macroeconomics, Labor Economics, International Economics, Political Philosophy, Law and Public Policy, all from the Austro-libertarian perspective. Hence, this book offers an integrated view of libertarianism and Austrian economics in the light of recent debates in the areas of economic science and political philosophy. Moreover, it builds from the foundations of the Austrian approach (epistemology and methodology), while the latter material deals with its application to the individual from the microeconomic perspective, which in turn allows an exploration of subjects in macroeconomics. Additionally, this work applies Austro-libertarianism to law, politics, and public policy. Thus, it offers a unified view of the entire approach, in a logical progression, allowing the readers to judge this perspective in full. Futerman and Block say that their book is not a manual, which I suppose it is not. But it is a collection of highly pertinent essays, from which you can understand what is mistaken in the orthodoxy of economics, law, and politics. The central term of art in Austrian economics is that phrase “human action.” It is the exercise of human will, not the blind bumping of one molecule against another or one organism against another, as in the physical sciences... Futerman and Block distinguish Austrian economics as a scientific enterprise based on liberty of the will from “libertarianism” as an advocacy based on policies implied by such liberty. “Although Austrian economics is positive and libertarianism is normative,” they write, “this book shows how both are related; how each can support the other.” Indeed they do. Deirdre N. McCloskey, PhD UIC Distinguished Professor of Economics and of History Emerita, Professor of English Emerita, Professor of Communication Emerita, University of Illinois at Chicago