The “new” economy seems to be vulnerable to cyclical shocks that increased in magnitude and induced higher volatilities on the markets. The role assumed by state in this equation of markets’ equilibrium significantly increased. The causes of current crisis of modern economies are strongly...

The welfare state was created after 1950 with counterproductive mechanisms and this caused high inflation and high unemployment and stagnating growth by 1970, called stagflation. Since 1970 governments redressed the welfare state but did not succeed in finding workable mechanisms. They rather...

This paper discusses the real understanding of inflation, its true causes and its root solutions.

This paper gives an Austrian economics answer to the present world economic crisis. It uses the Austrian Business Cycle Theory to analyze the root causes of this crisis and then presents the real solution of this problem.