It is traditionally claimed that the State has three main categories of policies to implement: allocation, distribution and stabilization policies. In the present chapter we will be concerned only with stabilization policies or, more generally, with the role public policies may have in...

Subject of numerous recent debates among economist researchers, complexity economics takes a whole new approach regarding economics, namely a holistic one. Although the phrase ‘complexity economics’ is recent, the holistic approach is however not a new subject, the ideas referring to...

In our attempt to understand the causes and consequences of the most critical international financial crisis of the 21st century which, besides crushing world economies, questioned the bases of the mainstream economic theories, we focused our attention on the solutions provided by the Austrian...

This paper aims at considering money, not as a simple aspect, but as the logical starting point of the whole schumpeterian research project: grasping the complex phenomena underlying a capitalist economy. Schumpeter’s monetary theory is based on the concept of social accounting, providing us...

The perception of individuals plays a central role in the business cycle theory that Hayek developed in the 1930s. Yet it does not make use of the psychology of perception which he had worked out in 1920, and which was published in 1952 as The Sensory Order. Is this a paradox? No! The Sensory...

Were we to resume the most general methodological principle of the Austrian School it would be truth seeking. Without such an orientation the scientific enterprise (and much more than that) becomes meaningless qua scientific endeavor.

The article is an answer to the publication The Ideas of Ludwig von Mises for the Development of the Austrian Economic School by N. Gerchev (iss. 4/ 2005), constructed as a critical analysis of positions and statements, presented in our study on the Austrian School. An attitude has been taken...

In quot;The Road to Serfdom,quot; F. A. Hayek set out the danger posed to freedom by attempts to apply the principles of wartime economic and social planning to the problems of peacetime. Hayek argued that the rise of Nazism was not due to any character failure on the part of the German people,...

The main aim of this paper is to introduce the network averaging technique. This technique is introduced because accurately determining the structure of real networks can be difficult and the network averaging technique provides a proxy for real networks. A second aim is to introduce the...

The purpose of this paper is to explain the scope of evolutionary infeasibility of socialism in the broad sense, in light of the theory of spontaneous order of F. A. Hayek. To that end we will study the redefinition of socialism in the context of evolutionary praxeology, we apply the theory of...