Keynes

Imagine two economists walking into a grocery store whose shelves are completely empty. One says: \"The problem is production — not enough goods are being created.\" The other one replies: \"No, the problem is demand — people aren’t spending, they’re saving. The state must stimulate consumption.\" This dispute still shapes how governments respond to crises, how they spend money, and how modern macroeconomic policy is justified.

The second part of the interviev by Josef Šíma (president of CEVRO Institute, Prague) with professor Peter Boettke on the importance of mainstream vs. mainline distinction in understanding economics, the power of ideas and education focusing on the link between philosophy, politics and economics, and the new master\'s PPE program in Prague.

On the importance of mainstream vs. mainline distinction in understanding economics, the power of ideas and education focusing on the link between philosophy, politics and economics, and the new master\'s PPE program in Prague with professor Peter Boettke talked Josef Šíma, president of CEVRO Institute, Prague.

On July 30, the British magazine \"The New Statesman\" published an article by the famous philosopher John Gray on the life, intellectual achievements, and mistakes of Friedrich Hayek. Gray’s piece examines the Austrian’s economic and political views. It is almost as if Gray puts Hayek on trial, the verdict of which has already been decided upon.

On March 5-8, 2015, university students from Slovakia and the Czech Republic gathered for the sixth annual Seminar on Austrian Economics organized by INESS, where they had an opportunity to attend quality lectures delivered by foreign and Slovak lecturers.

It is good that an agreement concerning law regulating fiscal responsibilities is reached in our Parliament, involving whole political spectrum. It is great to put down the fire with common effort. It would be even better, however, if we agreed on reasons of this long fire of debt, who and how caused it. And one […]