Savings, Private Property and Sound Money: An Austrian Perspective on the Essential Pre-requisites to Economic Growth and Development
Autor(a) principal: | |
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Data de Publicação: | 2018 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Mises |
Texto Completo: | https://revistamises.org.br/misesjournal/article/view/1091 |
Resumo: | The overarching goal of this paper is to provide an answer to the following question from the perspective of economists working within the Mengerian or Austrian tradition: What are the essential pre-requisites and pre-conditions for a process of economic growth and development to take place? In course of our discussion, we focus on three important pre-requisites. First, we look at the implications of the presence of time preference, especially for the importance that savings have for adopting longer and more productive production processes and boosting productivity. Second, we analyze the problem of economic calculation and isolate the important institutional pre-conditions that are necessary for the allocation of higher order goods: private property in higher order goods and the use of money. These institutional pre-conditions, as we discuss, are thus also essential for the process of economic growth. And finally, we discuss the importance of a sound monetary order for generating sustainable economic growth. |
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Savings, Private Property and Sound Money: An Austrian Perspective on the Essential Pre-requisites to Economic Growth and DevelopmentAhorro, Propiedad Privada y Moneda Estable: Una Perspectiva Austríaca sobre los Requisitos Previos Esenciales para el Crecimiento Económico y el DesarrolloPoupança, Propriedade Privada e Moeda Forte: Uma Perspectiva Austríaca sobre os Pré-requisitos Essenciais para o Crescimento e Desenvolvimento EconômicoPoupançaPropriedade PrivadaMoeda FortePerspectiva AustríacaSavingsPrivate PropertySound MoneyAustrian PerspectiveAhorroPropiedad PrivadaMoneda EstablePerspectiva AustríacaThe overarching goal of this paper is to provide an answer to the following question from the perspective of economists working within the Mengerian or Austrian tradition: What are the essential pre-requisites and pre-conditions for a process of economic growth and development to take place? In course of our discussion, we focus on three important pre-requisites. First, we look at the implications of the presence of time preference, especially for the importance that savings have for adopting longer and more productive production processes and boosting productivity. Second, we analyze the problem of economic calculation and isolate the important institutional pre-conditions that are necessary for the allocation of higher order goods: private property in higher order goods and the use of money. These institutional pre-conditions, as we discuss, are thus also essential for the process of economic growth. And finally, we discuss the importance of a sound monetary order for generating sustainable economic growth.El objetivo general de este artículo es proporcionar una respuesta a la siguiente pregunta desde la perspectiva de los economistas que trabajan dentro de la tradición Mengeriana o Austriaca: ¿Cuáles son los requisitos previos y condiciones esenciales para un proceso de crecimiento y desarrollo económico? En el transcurso de nuestra discusión, nos concentramos en tres pre-requisitos importantes. En primer lugar, observamos las implicaciones de la presencia de la preferencia temporal, especialmente por la importancia que las economías tienen para adoptar procesos de producción más largos y productivos y aumentar la productividad. En segundo lugar, analizamos el problema del cálculo económico y aislamos las importantes condiciones institucionales que son necesarias para la asignación de bienes de orden superior: la propiedad privada en bienes de orden superior y el uso del dinero. Estas condiciones institucionales, como discutimos, son, por lo tanto, también esenciales para el proceso de crecimiento económico. Y, finalmente, discutimos la importancia de un orden monetario estable para generar crecimiento económico sostenible.O principal objetivo desse artigo é trazer uma resposta para a seguinte pergunta sobre a perspectiva de economistas que trabalham dentro da tradição mengeriana ou austríaca: quais são os pré-requisitos e as pré-condições fundamentais para que um processo de crescimento e desenvolvimento econômico aconteça? Ao longo da nossa discussão, nós destacamos três pré-requisitos importantes. Primeiramente, nós observamos as implicações da presença de preferência temporal, principalmente pelo valor que as economias têm por adotar processos de produção mais longos e produtivos e assim, aumentar a produtividade. Em segundo lugar, analisamos o problema do cálculo econômico e isolamos as importantes pré-condições institucionais que são necessárias para a alocação de bens de ordem superior: a propriedade privada em bens de ordem superior bem como o uso do dinheiro. Essas pré-condições institucionais, assim como discutimos, são, portanto, também essenciais para o processo de crescimento econômico. E, por fim, discutimos a importância de uma ordem monetária sólida por gerar crescimento econômico sustentável.Instituto Mises Brasil2018-11-02info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://revistamises.org.br/misesjournal/article/view/109110.30800/mises.2018.v0.1091MISES: Interdisciplinary Journal of Philosophy, Law and Economics; 2018: SPECIAL ISSUEMISES: Interdisciplinary Journal of Philosophy, Law and Economics; 2018: SPECIAL ISSUEMISES: Interdisciplinary Journal of Philosophy, Law and Economics; 2018: SPECIAL ISSUE2594-91872318-0811reponame:Misesinstname:Instituto Mises Brasilinstacron:IMBenghttps://revistamises.org.br/misesjournal/article/view/1091/599Chamberlin, AntonManish, G.P.info:eu-repo/semantics/openAccess2019-06-08T02:31:03Zoai:ojs.emnuvens.com.br:article/1091Revistahttps://revistamises.org.br/misesjournalPRIhttps://revistamises.org.br/misesjournal/oairevista@mises.org.br2594-91872318-0811opendoar:2019-06-08T02:31:03Mises - Instituto Mises Brasilfalse |
dc.title.none.fl_str_mv |
Savings, Private Property and Sound Money: An Austrian Perspective on the Essential Pre-requisites to Economic Growth and Development Ahorro, Propiedad Privada y Moneda Estable: Una Perspectiva Austríaca sobre los Requisitos Previos Esenciales para el Crecimiento Económico y el Desarrollo Poupança, Propriedade Privada e Moeda Forte: Uma Perspectiva Austríaca sobre os Pré-requisitos Essenciais para o Crescimento e Desenvolvimento Econômico |
title |
Savings, Private Property and Sound Money: An Austrian Perspective on the Essential Pre-requisites to Economic Growth and Development |
spellingShingle |
Savings, Private Property and Sound Money: An Austrian Perspective on the Essential Pre-requisites to Economic Growth and Development Chamberlin, Anton Poupança Propriedade Privada Moeda Forte Perspectiva Austríaca Savings Private Property Sound Money Austrian Perspective Ahorro Propiedad Privada Moneda Estable Perspectiva Austríaca |
title_short |
Savings, Private Property and Sound Money: An Austrian Perspective on the Essential Pre-requisites to Economic Growth and Development |
title_full |
Savings, Private Property and Sound Money: An Austrian Perspective on the Essential Pre-requisites to Economic Growth and Development |
title_fullStr |
Savings, Private Property and Sound Money: An Austrian Perspective on the Essential Pre-requisites to Economic Growth and Development |
title_full_unstemmed |
Savings, Private Property and Sound Money: An Austrian Perspective on the Essential Pre-requisites to Economic Growth and Development |
title_sort |
Savings, Private Property and Sound Money: An Austrian Perspective on the Essential Pre-requisites to Economic Growth and Development |
author |
Chamberlin, Anton |
author_facet |
Chamberlin, Anton Manish, G.P. |
author_role |
author |
author2 |
Manish, G.P. |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Chamberlin, Anton Manish, G.P. |
dc.subject.por.fl_str_mv |
Poupança Propriedade Privada Moeda Forte Perspectiva Austríaca Savings Private Property Sound Money Austrian Perspective Ahorro Propiedad Privada Moneda Estable Perspectiva Austríaca |
topic |
Poupança Propriedade Privada Moeda Forte Perspectiva Austríaca Savings Private Property Sound Money Austrian Perspective Ahorro Propiedad Privada Moneda Estable Perspectiva Austríaca |
description |
The overarching goal of this paper is to provide an answer to the following question from the perspective of economists working within the Mengerian or Austrian tradition: What are the essential pre-requisites and pre-conditions for a process of economic growth and development to take place? In course of our discussion, we focus on three important pre-requisites. First, we look at the implications of the presence of time preference, especially for the importance that savings have for adopting longer and more productive production processes and boosting productivity. Second, we analyze the problem of economic calculation and isolate the important institutional pre-conditions that are necessary for the allocation of higher order goods: private property in higher order goods and the use of money. These institutional pre-conditions, as we discuss, are thus also essential for the process of economic growth. And finally, we discuss the importance of a sound monetary order for generating sustainable economic growth. |
publishDate |
2018 |
dc.date.none.fl_str_mv |
2018-11-02 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://revistamises.org.br/misesjournal/article/view/1091 10.30800/mises.2018.v0.1091 |
url |
https://revistamises.org.br/misesjournal/article/view/1091 |
identifier_str_mv |
10.30800/mises.2018.v0.1091 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
https://revistamises.org.br/misesjournal/article/view/1091/599 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Instituto Mises Brasil |
publisher.none.fl_str_mv |
Instituto Mises Brasil |
dc.source.none.fl_str_mv |
MISES: Interdisciplinary Journal of Philosophy, Law and Economics; 2018: SPECIAL ISSUE MISES: Interdisciplinary Journal of Philosophy, Law and Economics; 2018: SPECIAL ISSUE MISES: Interdisciplinary Journal of Philosophy, Law and Economics; 2018: SPECIAL ISSUE 2594-9187 2318-0811 reponame:Mises instname:Instituto Mises Brasil instacron:IMB |
instname_str |
Instituto Mises Brasil |
instacron_str |
IMB |
institution |
IMB |
reponame_str |
Mises |
collection |
Mises |
repository.name.fl_str_mv |
Mises - Instituto Mises Brasil |
repository.mail.fl_str_mv |
revista@mises.org.br |
_version_ |
1798313181861380096 |