Do Current Account Deficits Matter?
Antony Mueller explains some of the differences between the Austrian and the mainstream approach to a financial cycle, such as the fact that the latter limits the analysis because the main objective is to create mathematical models while the Austrian economics is more liberal and detailed in its approaches. He analyzes the monetary approach, the equilibrium and adaptation, and the monetary calculation of each economic method. He comments on the causes of production, how it lowers the interest rates, and also mentions the recycling of petrodollars that occurred in the 1970s. His main focus, however, is the explanation of the boom-bust cycles and the government’s role in such process. Mueller enhances this explanation by using Brazil as an example of the government’s role in the boom-bust cycles.
10 de noviembre de 2010
Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.
Universidad Francisco Marroquín