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POSTKEYNESOVSKÁ INTERPRETÁCIA TRADIČNÉHO IS-LM MODELU

100%
Hošoff B.
Ekonomický časopis (Journal of Economics)
|
2006
|
vol. 54
|
issue 6
572-583
EN
Neoclassical interpretation of Keynes' thoughts based on the IS-LM model are well known and widely accepted, mainly because of the rather simple and straightforward mathematical components describing the relations between the effective demand and the liquidity preference theory. Despite that, this interpretation suppressed Keynes's novelty and contribution to economic theory. Further development and expansion of the banking services created new platform for the post-keynesian monetary theory of the production, which is developed from the rigorous analysis of the banking money and production. Bernard Schmitt's contribution to further development of the Keynes theory is without doubt enriching of the modern economic thinking, which is important in the light of the rapid development of the banking systems during the last 25 years.
2

THE IMPORTANCE OF MISES' TREATISE AT THE BEGINNING OF 21TH CENTURY

100%
Machaj M.
Studia Ekonomiczne (Economic Studies)
|
2008
|
issue 3-4(58-59)
285-298
EN
The article demonstrates the significance of the L. von Mises 'Human Action' for modern economic science. Following the words of Vernon Smith, Noble Prize Winner, the author argues that even though economics has been developed since the publication of 'Human Action' (1949) the basic message of that book remains intact. He is going to show how it helped Mises to develop his own unique paradigm by which he turned away from his Austrian predecessors (Menger and Boehm-Bawerk). In consequence he also stands in opposition to modern schools of thought. To demonstrate this the author is going to emphasize four most important pillars: imputation theory, monetary theory, economic policy approach and economic methodology.
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