Stimulation of Economy According to the Austrian School
AbstractThe aim of the article is to explore how the results of the U. S. subprime mortgage crisis influenced economic policy of governments in highly developed countries. It analyses consequences of a state intervention especially for government budgets and a rise of government debts. Then the article discusses the point of view of the Austrian school. Austrian economists argue a state is not an economic subject and its fiscal policy is very dangerous for effective allocation of the available resources of production´s factors. They advocate a society with a small government and liberal economic policy. The author believes that Austrian approach to economic problems is more realistic and more pertinent than the approach of those, who demand more government intervention.
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Bibliographic InfoArticle provided by University of Economics, Prague in its journal Politická ekonomie.
Volume (Year): 2013 (2013)
Issue (Month): 1 ()
Postal: Redakce Politické ekonomie, Vysoká škola ekonomická, nám. W. Churchilla 4, 130 67 Praha 3
Find related papers by JEL classification:
- B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian
- D41 - Microeconomics - - Market Structure and Pricing - - - Perfect Competition
- D42 - Microeconomics - - Market Structure and Pricing - - - Monopoly
- D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
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