A model of Austrian economics [electronic resource] / Hendrik Hagedorn.

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A model of Austrian economics [electronic resource] / Hendrik Hagedorn.

9783658070779 (electronic book)
3658070773 (electronic book)
9783658070762
3658070765

Wiesbaden : Springer Gabler, [2015]

©2015

English

1 online resource

10.1007/978-3-658-07077-9 doi

HB98 .H34 2015eb

330.15/7

After the most recent financial crisis it has become clear that there exists a crisis also in economics as a science. The prevailing paradigms have failed to anticipate and to understand the financial crisis. New approaches are therefore needed. Of particular interest should be approaches that combine insights from those parts of economics that are largely neglected by the mainstream. Hendrik Hagedorn presents a model that synthesizes elements of Austrian, post-Keynesian, and evolutionary economics. Thus, an economic paradigm is developed that challenges neoclassical economics as a whole. Contents An agent-based economy within an accounting framework Reaction algorithms for households, firms, and banks A contribution to interest-rate theory A comparison of Austrian and neoclassical economics Target Groups Students and researchers in the fields of economics and epistemology of the social sciences Macroeconomic analysts The Author Hendrik Hagedorn is a physicist and an economist. He works at an institute for applied economic research in Germany.

"Dissertation, Universität Münster, 2013."

Includes bibliographical references.

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