Socially Unjust Inflation: Why Recessions Are Inevitable and Salutary
Inflation is profoundly socially unjust. Its causes lie above all in an expansionary monetary policy, and this must be stopped. If policymakers want to prevent the inevitable recession that will follow, they will only make the problems worse.
The Austrian Academy 2021: Liberation from Academic Lockdown
Capitalism and the market economy are the foundations of our prosperity, which, thanks to globalization, is also spreading to places in which poverty still prevailed decades ago. At the Austrian Academy 2021 experts explain to twenty-two young people why this is so.
The Universal Destination of Goods and Private Property: Is the right to private property only a “second-tier” natural right?
Did the rich get rich by robbing the poor? Theology and Catholic social teaching have long known that wealth generation is not a zero-sum game, but a process from which everyone benefits.
The Discovery of “Capital” in the Economic Ethics of the High Middle Ages
The pioneers of modern economics were moral theologians of the Middle Ages. Petrus Johannis Olivi discovered, among other things, “capital,” the subjective theory of value, and distinguished interest from usury. He thus paved the way for a positive view of commercial activity.