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economic policy, because the competition ensures the freedom of choice. The theory of competition provides large number of …
Persistent link: https://www.econbiz.de/10005036608
My article is an impetus for a discussion on liberal aspect of the thinking of social democratic politician and economist Josef Macek (1887-1972). In the first part I define Macek´s approach to liberalism (his understanding of the basic notions, concept of the relationship between an individual...
Persistent link: https://www.econbiz.de/10008553102
central control model and the theory of Marxism-Leninism. The study searches for an answer through analysis of two questions …: Could a different economic concept have been applied at all? Was the theory of Marxism-Leninism internally consistent and …´s transfer to socialism was not based on the Marxist theory as a peculiar economic theory offering a new control concept, but …
Persistent link: https://www.econbiz.de/10008500672
This paper starts with discussion about enhanced and frequently used conceptions of free markets, market failures and market primacy. There are pointed some simplifications due to the man should be prospective while using them, especially in applied economics. We have no positive definition of a...
Persistent link: https://www.econbiz.de/10005036577
The Council of Economic Experts and its influence on the German economic policy are discussed in this paper. The first section concentrates on the institutional background and historical genesis of this body. Consequently, the importance of the Council in preventing a competitive and efficient...
Persistent link: https://www.econbiz.de/10005036640
During 1930s and 1940s Josef Macek developed monetary theory leading to monetary policy recommendations which are … deeply influenced by macroeconomic theory of John Maynard Keynes. Macek became leading Czech left-wing keynesian. His theory … critisized and disapproved the quantity theory of money. In his monetary theory and his monetary policy conclusions he was a …
Persistent link: https://www.econbiz.de/10005036614
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Learning process is a new approach of filling the gap between adaptive expectations and rational expectations. Private agents are learning new information and adjust their expectation about the inflation and output gap. Central bank transparency is one of the key factors of learning by private...
Persistent link: https://www.econbiz.de/10008564640