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Financial Crisis and Economic Recession

Author

Listed:
  • Huerta de Soto Jesus

    (Universidad Rey Juan Carlos, Madrid)

Abstract

The logic of the historical evolution of the wrong institutional design that affects the financial and monetary system of the so called free market economies up to day is somehow easy to understand: bubbles did continue, financial crisis and economic recessions were not avoided, the bail out of banks was regularly demanded, the lender of last resort was created precisely to bail out the banks.

Suggested Citation

  • Huerta de Soto Jesus, 2011. "Financial Crisis and Economic Recession," Revista OEconomica, Romanian Society for Economic Science, Revista OEconomica, issue 01, March.
  • Handle: RePEc:oen:econom:y:2011:i:01:id:284
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    More about this item

    Keywords

    state; market; central banking; fractional reserve banking; fiduciary media; economic crisis;

    JEL classification:

    • B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Wicksellian)
    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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