Austrian Theory of Capital and Business Cycle

A Modern Approach
1. Auflage 2022
ISBN: 978-3-031-18727-8
Verlag: Springer International Publishing

Buch, Englisch, 151 Seiten, Format (B × H): 153 mm x 216 mm, Gewicht: 338 g

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.

Zielgruppe

Research

Autoren/Hrsg.

Potuzak, Pavel

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Wirtschaftssysteme, Wirtschaftsstrukturen
• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Geschichte der VWL
• Wirtschaftswissenschaften Volkswirtschaftslehre Wirtschaftspolitik, politische Ökonomie

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.

Über Autor(innen)

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