Daily Article:
Tuesday, January 06, 2009
by
Frank Shostak
If it were possible to lift real economic growth by means of money pumping, world poverty would have been eradicated a long time ago. Real economic growth requires real savings to fund various activities that support and promote it. (Remember that money is just a medium of exchange and cannot grow anything. Money is employed to exchange goods of one wealth generator for the goods of another wealth generator.)
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Daily Article:
Tuesday, January 06, 2009
by
Juan Ramón Rallo Julián
The current global financial crisis, described in an incomplete manner as the "subprime crisis," has shown, however, that neoclassical theories are not only descriptively false, but also completely incapable of predicting events. In contrast, the Austrian School's theories, as I will show, not only maintain their realistic approach but also have an important predictive power.
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