Global Economy

Between 1830 and 1903, Sweden experienced one of the longest and most successful free-banking periods in history. During this period, private note issuing banks were allowed and prospered. 

This volume brings together highly important and relevant essays from distinguished authors, all of which are firmly anchored in the tradition of the Austrian School of Economics.

Dinosaur reveals many relevant truths that do not appear in World Bank financial statements and press release while reviewing much of the relevant literature. 

The theory of free banking establishes that free competition in note issue decreases the probability of financial instability and currency depreciation. 

This paper proceeds by explaining deflation and aggregate price determination in more detail. Then, some facts about the development of Japan, 1990–2001, are provided, together with an extensive interpretation

Austrian business cycle theory has a legitimate claim to being the most authoritative explanation of the recent global financial and economic crisis. 

In his book The Theory of Economic Development, Schumpeter (1934) pointed out that entrepreneurs are prime movers of economic change. The entrepreneurs described by Schumpeter were innovators.

Recent events in the US — high unemployment, record federal deficits, and unprecedented financial distress — have raised serious doubts about the future of the dollar.

In this new offering, Rojas tends to downplay the existence of any net capital movements and to argue that, if such net capital movements existed at all, they operate only in favor of the capitalist West. 

The Austrian theory mainly deals with analyzing the effects of an increased credit offer on productive structures.