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Austrian Economics OverviewPhilosophy and Methodology
The real value of saving is found in how much it supports and sustains the individuals who are engaged in various stages of production.
Taxes and SpendingMoney and Banking
Government spending distorts and harms the wealth creation process. And cutting taxes without cutting spending won't lead to real economic growth.
Money and BanksMoney and Banking
Since the government is not a wealth generating entity, how can an increase in government outlays revive the economy?
The acceptance of money is dictated by its previous purchasing power.
The only reason why the illusion that central authorities can grow an economy appears to be real is because of a still expanding pool of real savings.
As far as the currency exchange rate determination is concerned, the essential variable is the relative changes in the purchasing power of various monies.