It is generally stated that the fractional-reserve banking system (FRBS) is consistent with sustainable economic growth and development. While it assumes that depositors will not be a joint demand who will claim all their money simultaneously, it supposes that a monetary aggregate greater than...

A superb introduction to Austrian economicsThe Austrian School is a concise but comprehensive exposition of the main tenets of the modern Austrian School of Economics. It also provides a detailed explanation of the differences between the Austrian and the neoclassical (including the Chicago...

A new theory on the characteristics of entrepreneurial knowledgeThis important book published by the Institute of Economic Affairs in association with Edward Elgar presents, in a new context, important aspects of Austrian economic ideas. The book explores the recent shift among professional...

This conference was held in october 2010 at the anniversary of 150 years since the founding of Alexandru Ioan Cuza University from Iaşi, Romania

Barnett and Block (forthcoming) claim that Bagus and Howden (2012b) support indirectly the concept of market failure. In this paper we show that maturity mismatching in an unhampered market may imply entrepreneurial error but cannot be considered a market failure. We demonstrate why...