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Philipp Bagus

Tags Financial MarketsMoney and BanksBusiness CyclesMonetary TheoryMoney and Banking

Works Published inSpeeches and PresentationsMises Daily ArticleThe Journal of Libertarian StudiesQuarterly Journal of Austrian EconomicsThe Free MarketLibertarian Papers

AwardsO.P. Alford III Prize in Political Economy

Philipp Bagus is professor of economics at Universidad Rey Juan Carlos. He is a Fellow of the Mises Institute, an IREF scholar, and was awarded the 2011 and 2017 O.P. Alford III Prize in Libertarian Scholarship, the Ron Paul Liberty in Media Award 2003, the Templeton Fellowship Award of the Independent Institute in 2008, and the Ludwig-Erhard-Forderpreis 2016. He is the author of The Tragedy of the Euro and coauthor of Deep Freeze: Iceland's Economic CollapseThe Tragedy of the Euro has so far been translated and published in Greek, German, French, Slovak, Polish, Italian, Romanian, Finnish, Spanish, Portuguese, British English, Dutch, Brazilian Portuguese, Bulgarian, and Chinese. He is also author of In Defense of Deflation, and co-author with Andreas Marquart of Blind Robbery: How the Fed, Banks and Government Steal Our Money and of the German language book Wir schaffen das alleine - warum Kleinstaaten einfach besser sind. Visit his website at PhilippBagus.com.

All Works

Austrian Business Cycle Theory: Are 100 Percent Reserves Sufficient to Prevent a Business Cycle?

02/09/2010Libertarian Papers
We have seen that the time dimension of savings is essential to understanding the business cycle. This dimension can vary and have effects on the structure of production. Entrepreneurs can anticipate future decreases in time-preference rates and the roll-over of short-term savings. In a free market...
Formats

lp-2-2_2.pdf

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The Fed's Dilemma

The FedFree MarketsBusiness CyclesInterventionism

10/08/2009Mises Daily Articles
The root of the current financial crisis was an artificially induced boom in the real economy, and asset-price markets that subsequently turned to bust. The bust led to a reduction in the values of many assets owned by banks.
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The Icelandic Meltdown

Booms and BustsBusiness Cycles

08/01/2009The Free Market
The Free Market 27, no. 8 (August 2009) Icelandic Prime Minister Geir Haarde’s resignation this year marked the fi rst political casualty of the current financial crisis that resulted in the collapse of all major banks, a run on deposits, a stock market drop of 90 percent, empty grocery shelves,...
Formats

august09_0.pdf

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Iceland's Banking Crisis: The Meltdown of an Interventionist Financial System

Booms and BustsThe FedGlobal EconomyMoney and Banks

06/09/2009Mises Daily Articles
Government interventions are at the root of the problem as they disrupt the incentive structure that bankers face, limiting their propensity to abide by this sensible practice. The explicit guarantee by the Central Bank of Iceland altered bankers' risk preferences, and resulted in the risky...
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The Insolvency of the Fed

The FedMoney and BanksGold StandardMonetary Theory

02/05/2009Mises Daily Articles
Only two things can save the Fed at this point. One is a bailout by the federal government. This recapitalization could be financed by taxes or by monetizing government debt in another blow to the value of the currency.
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