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Stimulace hospodářství z pohledu rakouské školy
[Stimulation of Economy According to the Austrian School]

Author

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  • Eva Kindlová

Abstract

The 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.

Suggested Citation

  • Eva Kindlová, 2013. "Stimulace hospodářství z pohledu rakouské školy [Stimulation of Economy According to the Austrian School]," Politická ekonomie, Prague University of Economics and Business, vol. 2013(1), pages 91-108.
    • Handle: RePEc:prg:jnlpol:v:2013:y:2013:i:1:id:885:p:91-108
    DOI: 10.18267/j.polek.885
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    More about this item

    Keywords

    fiscal policy; Austrian school; business cycle; libertarianism; government debt; US subprime mortgage crisis; government policy; small government;
    All these keywords.

    JEL classification:

    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • D41 - Microeconomics - - Market Structure, Pricing, and Design - - - Perfect Competition
    • D42 - Microeconomics - - Market Structure, Pricing, and Design - - - Monopoly
    • D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • 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; Modern Monetary Theory
    • F02 - International Economics - - General - - - International Economic Order and Integration

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