Štěpán Drábek

  This material was published as part of our “Publish with Us” series.  Abstract This article examines the economic costs of inflation from the perspective of the Austrian school of economics, emphasizing its redistributive effects, distortion of relative prices, and disruption of economic calculation. Inflation redistributes wealth, benefiting early recipients of new money while disadvantaging […]

  Economics holds a unique status among other sciences. However, rather than being its privilege, this is in some respects its unfavourable feature, which often causes difficulties for its scholars. For the work of an economist is by its very nature a somewhat thankless one, when he must avoid the effort of gaining public recognition […]