Emanuele Canegrati

1. What is productivity according to the Austrian School of Economics? The Austrian School of Economics views productivity as the successful alignment of subjective consumer demands with efficient, time-structured production. It rejects aggregate statistical averages, emphasizing instead that true productivity arises from entrepreneurial innovation, capital investment, and time preference (the decision to save rather than […]

  Gottfried von Haberler’s contributions to international trade theory and policy have been disruptive and yet the works written by one of most prominent Austrian economists are unfairly undervalued when analysing modern events in world economy, such as the “new protectionism”. Gottfried von Haberler’s theory remains a cornerstone of modern international trade. His simple and […]

Sorry, on Inflation We Were Wrong | Over the last two months, top officials of the two most important central banks in the world, the Federal Reserve and the European Central Bank, have publicly admitted that they have made big mistakes in considering the 2021-2022 inflationary surge afflicting the global economy only as a mere “temporary” phenomenon …

International economics textbooks have always taught students that currency exchange rates in forex markets depend, among many other things, on the monetary policy stance chosen by global central banks. A famous rule of the thumb written by Keynesian Nobel laureate Paul Krugman in his ‘International Economics’, considered a true bible in the macroeconomic theory, explains […]

Many global central banks are developing projects to introduce own cryptocurrencies, and year-2020 could be the right one to observe the first examples …