Austrian Economics, Money and Finance

ISBN-13: 9781138051416 / Angielski / Twarda / 2017 / 204 str.

Research Institute Thomas (Flossbach von Storch AG Mayer

Opis

This book investigates the problems associated with mainstream monetary economics and finance, and proposes alternatives based on the Austrian school of economics. 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. 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.

O autorze

Thomas Mayer is Founding Director of the Flossbach von Storch Research Institute, Cologne, Germany. He is former Chief Economist of Deutsche Bank Group and has held positions at Goldman Sachs, Salomon Brothers, the International Monetary Fund and the Kiel Institute.