000890167 000__ 05781cam\a2200505Ii\4500
000890167 001__ 890167
000890167 005__ 20230306145912.0
000890167 006__ m\\\\\o\\d\\\\\\\\
000890167 007__ cr\cn\nnnunnun
000890167 008__ 180914s2018\\\\sz\\\\\\ob\\\\001\0\eng\d
000890167 019__ $$a1052875000
000890167 020__ $$a9783319959030$$q(electronic book)
000890167 020__ $$a3319959034$$q(electronic book)
000890167 020__ $$z9783319959023
000890167 020__ $$z3319959026
000890167 035__ $$aSP(OCoLC)on1052566591
000890167 035__ $$aSP(OCoLC)1052566591$$z(OCoLC)1052875000
000890167 040__ $$aN$T$$beng$$erda$$epn$$cN$T$$dN$T$$dEBLCP$$dNLE$$dYDX$$dOCLCF$$dFIE$$dIN0$$dNOC$$dUKAHL$$dGW5XE
000890167 049__ $$aISEA
000890167 050_4 $$aHG5452
000890167 08204 $$a332.6$$223
000890167 1001_ $$aArisson, Morten,$$eauthor.
000890167 24510 $$aInvesting in the age of democracy :$$bten lessons in applied Austrian economics /$$cMorten Arisson.
000890167 264_1 $$aCham, Switzerland :$$bPalgrave Macmillan,$$c2018.
000890167 300__ $$a1 online resource.
000890167 336__ $$atext$$btxt$$2rdacontent
000890167 337__ $$acomputer$$bc$$2rdamedia
000890167 338__ $$aonline resource$$bcr$$2rdacarrier
000890167 504__ $$aIncludes bibliographical references and index.
000890167 5050_ $$aIntro; Dedication; Preface; Disclaimer; Contents; List of Figures; Introduction; Bibliography; Part I: The Current Paradigm; 1: Working with the Wrong Tools; Differential Analysis; Probability Theory; The Concept of Liquidity; Deficient Liquidity Structures; Variation No. 1: Fractional Reserve Banking; Variation No. 2: Shadow Banking; Variation No. 3: Commodity ETFs; Variation No. 4: Clearinghouses (with Physical Delivery); High-Frequency Trading; Sovereign Risk; Fallacy No.1: Creditors Are Safe as Sovereigns Do Not Vanish; Fallacy No. 2: You Collect More from a Sovereign
000890167 5058_ $$aFallacy No. 3: Sovereign Debt in Local Currency Cannot DefaultCorrelation (or Modern Portfolio Theory); Conclusion; Appendix; Aesthetics in Infinitesimal Analysis; Aesthetics in General Equilibrium Theory; A Word on Indeterminacy; Bibliography; Part II: Fundamentals; 2: Asset Allocation Is Intertemporal Preference; Intertemporal Preference; Conclusion; Capital; Derivatives, Commodities Are Not Investing Assets; Investments Versus Trades; Bibliography; 3: Turing's Decidability; Formalization of Entrepreneurship Is an Error; Decidability and Finance; Decidability and Capital Structure
000890167 5058_ $$aPortfolio ConstructionMezzanine Investing: Avoid It; Appendix I: Monetary Policy and Capital Structure; Appendix II: Decidability and Economies of Scale; Bibliography; 4: Equity; Limited Liability; Insider Information; Conclusion; Bibliography; 5: Debt; Labour; Private Debt; Borrowing Causes; Repayment; Discouragement to Default; Bilateral Loans; Private Placements; Syndicated Loans; Corporate Bonds; Bibliography; 6: Institutions; Private Institutions; The Irregular Deposit; The Loan; Money; Gold; Intervention of the Gold Market; Banking and Financial Intermediation; Virtual Currencies
000890167 5058_ $$aInnovation in Institutions Public Institutions; Bibliography; Part III: Economic Concepts; 7: Systemic Risk; Gold Standard; Gold Exchange Standard; How It All Began; How Adjustments Worked Under the Gold Standard; How Adjustments Worked Under the Gold Exchange Standard; How the Perspective Changed as the United States Became a Debtor Nation; How Adjustments Work Without Currency Swaps; How Adjustments Work Today, with Currency Swaps; Conclusion: There Are No Black Swans; Bibliography; 8: Inflation and Hyperinflation; The Concept of Inflation; Hyperinflation or How Central Banks Lose Control
000890167 5058_ $$aAddendum Bibliography; 9: Real Capital Assets; Movable Real Assets; Cattle; Wine; Unmovable Real Assets; Forests; Residential Real Estate; Farmland; Bibliography; 10: Economic Growth; When Did This All Begin?; Roy F. Harrod; Evsey D. Domar; James Tobin; Robert Solow; But What Is Economic Growth?; Implications for the Investor; Bibliography; Final Comments; Bibliography; Index
000890167 506__ $$aAccess limited to authorized users.
000890167 520__ $$aThis book offers a structured, deductive approach to Austrian investing, beginning with an analysis of the current investing paradigm. There are five economic concepts on which the Austrian School of Economics has a unique view: Entrepreneurship, Class Probability, Capital, the Interest Rate, and Institutions. This book explains, lesson by lesson, how each of theseshapes our thinking about investing. If we follow them through their logical consequences, they leave us with a unique approach to investing. Except for the theory of probability, there has not been a comprehensive analysis of the linkages between these concepts, when it comes to investing. Although they would have been obvious to the average investor before the age of democracy, since the French and American revolutions, government interventions have steadily transformed the way we think about them (and the way we invest). Above all, Entrepreneurship and Institutions are downplayed today, while investors use Case Probability, and confuse the concepts of Money and Capital. This book offers a historical review of these interventions, to shed light on how we went from what was common sense to the status quo. Offering a sometimes technical analysis, the book examines a series of fundamental investment fallacies, their origins and how not to fall for them.
000890167 588__ $$aOnline resource; title from PDF title page (viewed September 17, 2018).
000890167 650_0 $$aInvestments$$zAustria.
000890167 650_0 $$aAustrian school of economics.
000890167 651_0 $$aAustria$$xEconomic policy.
000890167 77608 $$iPrint version $$z3319959026$$z9783319959023$$w(OCoLC)1039672559
000890167 852__ $$bebk
000890167 85640 $$3SpringerLink$$uhttps://univsouthin.idm.oclc.org/login?url=http://link.springer.com/10.1007/978-3-319-95903-0$$zOnline Access$$91397441.1
000890167 909CO $$ooai:library.usi.edu:890167$$pGLOBAL_SET
000890167 980__ $$aEBOOK
000890167 980__ $$aBIB
000890167 982__ $$aEbook
000890167 983__ $$aOnline
000890167 994__ $$a92$$bISE