Austrian Theory of Capital and Business Cycle

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Sprache: Englisch

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Beschreibung

This book explores Austrian capital theory and Austrian business theory from the perspective of modern economics. Sustainable change within the production structure is examined in relation to time preference, the Böhm-Bawerkian theory of capital and interest, and the Hayek Triangle. In turn, the impact of monetary shocks and boom-bust cycles is detailed, with a particular focus on the Ricardo Effect, dynamics of money supply, and the natural rate of interest.

This book aims to present a new framework for Austrian economics that will make these ideas applicable to both mainstream economic models and modern economists. It will be relevant to students and researchers interested in the history of economic thought and the political economy.

Über den Autor

Pavel Potuzak is Assistant Professor at the Prague University of Economics and Business.

Zusammenfassung

Presents recommendations for monetary policy based on the Austrian business cycle theory

Expands the Austrian approach to economics to make it more applicable to modern economics

Clarifies inconsistencies within Austrian economics through the use of a new graphical apparatus

Inhaltsverzeichnis

1. Introduction.- 2. The Austrian Theory of Capital.- 3. The Böhm-Bawerkian Theory of Capital and Interest.- 4. The Hayek Triangle.- 5. Impact of the Decrease in Time Preference on the Structure of Production.- 6. Possibility of Eternal Growth and Comparison with the Neoclassical Growth Model.- 7. The Austrian Business Cycle Theory.- 8. Exogenous Shock to the Money Supply and the Business Cycle.- 9. The Ricardo Effect.- 10. Dynamics of the Money Supply.- 11. Technological Shock and the Endogenous Response of the Money Supply.- 12. The Natural Rate of Interest and the Natural Output.- 13.Conclusions.

Details

Erscheinungsjahr:	2022
Fachbereich:	Volkswirtschaft
Genre:	Recht , Sozialwissenschaften , Wirtschaft
Rubrik:	Recht & Wirtschaft
Medium:	Buch
Inhalt:	xiii 151 S. 60 s/w Illustr. 151 p. 60 illus.
ISBN-13:	9783031187278
ISBN-10:	303118727X
Sprache:	Englisch
Einband:	Gebunden
Autor:	Potuzak, Pavel
Auflage:	1st edition 2022
Hersteller:	Springer Nature Switzerland Springer International Publishing
Verantwortliche Person für die EU:	Springer Verlag GmbH, Tiergartenstr. 17, D-69121 Heidelberg, juergen.hartmann@springer.com
Maße:	216 x 153 x 14 mm
Von/Mit:	Pavel Potuzak
Erscheinungsdatum:	13.12.2022
Gewicht:	0,338 kg