GDL

MONEY, BANK CREDIT, AND ECONOMIC CYCLES

ISBN: 978-0-945466-39-0
Book from gdlhub / 2012-06-27 15:22:57
Oleh : JESÚS HUERTADE SOTO, Ludwig von Mises Institute
Dibuat : 2012-06-27, dengan 1 file

Keyword : MONEY, BANK CREDIT, AND ECONOMIC CYCLES
Subjek : MONEY, BANK CREDIT, AND ECONOMIC CYCLES
Sumber pengambilan dokumen : INTERNET

The economic analysis of juridical institutions has come

to the fore in recent years and promises to become one

of the most fruitful spheres of economics. Much of the

work completed thus far has been strongly influenced by tra-

ditional neoclassical assumptions, namely by the concept of

strict maximization in contexts of equilibrium. Still, economic

analyses of law reveal the shortcomings of the traditional

approach and do so perhaps better than any other branch of

economics. In fact, juridical institutions are so intimately

involved in daily life that it is notoriously difficult to apply the

traditional assumptions of economic analysis to them. I have

already attempted elsewhere to expose the dangers the neo-

classical perspective brings to the analysis of juridical institu-

tions.1 Economic analyses of law are certainly necessary, but

they call for a less restrictive methodology than has generally

been used to date, one more suited to this particular field of

research. The subjectivist view is a more fitting approach.

Developed by the Austrian School, it is based on their concept

of creative human action or entrepreneurial activity and

implies a dynamic analysis of the general processes of social

interaction. This perspective promises to make great contribu-

tions to the future development of the economic analysis of

juridical institutions.

Deskripsi Alternatif :

The economic analysis of juridical institutions has come

to the fore in recent years and promises to become one

of the most fruitful spheres of economics. Much of the

work completed thus far has been strongly influenced by tra-

ditional neoclassical assumptions, namely by the concept of

strict maximization in contexts of equilibrium. Still, economic

analyses of law reveal the shortcomings of the traditional

approach and do so perhaps better than any other branch of

economics. In fact, juridical institutions are so intimately

involved in daily life that it is notoriously difficult to apply the

traditional assumptions of economic analysis to them. I have

already attempted elsewhere to expose the dangers the neo-

classical perspective brings to the analysis of juridical institu-

tions.1 Economic analyses of law are certainly necessary, but

they call for a less restrictive methodology than has generally

been used to date, one more suited to this particular field of

research. The subjectivist view is a more fitting approach.

Developed by the Austrian School, it is based on their concept

of creative human action or entrepreneurial activity and

implies a dynamic analysis of the general processes of social

interaction. This perspective promises to make great contribu-

tions to the future development of the economic analysis of

juridical institutions.

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