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Mateusz Machaj

Tags Gold StandardMoney and Banking

Works Published inMises Daily ArticleQuarterly Journal of Austrian Economics

AwardsLawrence W. Fertig Prize in Austrian EconomicsDouglas E. French Prize at Mises University

Mateusz Machaj is a Fellow of the Mises Institute who received his PhD in economics from the University of Wroclaw. He is a founder of the Polish Mises Institute of Economic Education and five time Research Fellow of the Mises Institute (2005-2009). He received the Douglas E. French Prize and the Lawrence Fertig Prize in Austrian Economics. Dr. Machaj is the author of Capitalism, Socialism and Property Rights: Why Market Socialism Cannot Substitute the MarketMoney, Interest and the Structure of Production: Resolving Some Puzzles in the Theory of Capital, and The Rise and Fall of the First Galactic Empire: Star Wars and Political Philosophy

All Works

The Danger behind the Fed's Exceptional Profits

The FedInterventionismMonetary TheoryOther Schools of Thought

01/28/2010Mises Daily Articles
From the market point of view the Fed is a bankrupt institution.
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The Nature of Socialism

Big GovernmentInterventionismOther Schools of ThoughtPrivate Property

01/26/2010Mises Daily Articles
Socialism means dictatorship, necessarily survives as dictatorship, and no centrally produced accounting ratios will change that fact. As such, competition is literally impossible under socialism, and this cannot be changed by the introduction of centrally administered accounting ratios.
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Oh Keynesian, Where Art Thou?

Financial MarketsMonetary TheoryOther Schools of Thought

04/08/2008Mises Daily Articles
But the Keynesian conclusion is rather obvious: the state, through its compulsory means, has to boost the level of aggregate demand in some way to stop the economy from falling into recession.
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Friedman for Government Intervention: The Case of the Great Depression

Booms and BustsOther Schools of ThoughtPhilosophy and Methodology

01/23/2007Mises Daily Articles
Friedman maintained that the policies of the Great Depression were a failure because they were not based on his own interventionist proposals: to inflate and undermine property contracts. From this perspective, the state failed not because it didn't "let the market work" but because it didn't let...
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Is There a Distinct Theory of International Trade?

Free MarketsGlobal EconomyMonopoly and CompetitionValue and Exchange

01/19/2004Mises Daily Articles
Mateusz Machaj, founder of the Mises Institute, Poland, argues that international trade theory isn't a stand-alone topic. It is a practical application of general trade theory to trading between persons from different countries. There is no difference between mobility of factors of production...
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