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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

All Works

Eliminating Monetary Externalities

The Murray N. Rothbard Memorial Lecture. Recorded March 11, 2011, at the Ludwig von Mises Institute in Auburn, Alabama. [55:35]
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Authors Forum: Tragedy of the Euro & Deep Freeze

Recorded March 11, 2011, at the Ludwig von Mises Institute in Auburn, Alabama. [18:30]
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Deep Freeze: Iceland's Economic Collapse

Financial MarketsGlobal EconomyInterventionismMoney and Banking

Economists Philipp Bagus and David Howden demonstrate that the real cause of the 2008 Iceland calamity was bad central bank policy.
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Two Visions for Europe

Free MarketsGlobal EconomyOther Schools of Thought

02/07/2011Mises Daily Articles
In order to understand the tragedy of the euro and its history, it is important to be familiar with the two diverging and underlying visions and tensions that have come to the fore in the face of a single currency.
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Will There Be QE3, QE4, QE5...?

Global EconomyInterventionism

12/31/2010Mises Daily Articles
QE2 is a direct response to deficit spending, which obliges the government to issue more bonds. With QE2, the Fed supports the state by buying these bonds. The Fed thereby actively helps the government in its Keynesian policies, which disrupt recovery.
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