The Socialist Myth of the Greedy Banker by Iakovos Alhadeff | NOOK Book (eBook) | Barnes & Noble
The Socialist Myth of the Greedy Banker

The Socialist Myth of the Greedy Banker

by Iakovos Alhadeff
     
 

There is a wide spread belief that it was the private banking sector that caused the current economic crisis. “Greedy” private bankers destabilized the economy, as socialists put it. At the same time, there are many conspiracy theories about central banks around. According to these theories, central banks are controlled by “dark” forces, and

Overview

There is a wide spread belief that it was the private banking sector that caused the current economic crisis. “Greedy” private bankers destabilized the economy, as socialists put it. At the same time, there are many conspiracy theories about central banks around. According to these theories, central banks are controlled by “dark” forces, and these forces caused the crisis of 2008.

As a result, most people without a background in economics are very confused. However reality is much simpler than it seems to be. The purpose of this essay is to explain why the crisis of 2008 has nothing to do with the private banking sector, and also explain the role that central banks play in the economy. This document, together with “The Socialist Myth of Economic Bubbles”, should give the reader a good understanding of the current crisis, and why this crisis was the result of the wrong government policies in Europe, U.S.A. and China.

This essay follows the tradition of the great Austrian economists, like Ludwig von Mises, F. A. Hayek and Murray Rothbard. No prior economic knowledge is required on behalf of the reader. A genuine interest on the subject will suffice.

Product Details

ISBN-13:
2940045765725
Publisher:
Iakovos Alhadeff
Publication date:
03/12/2014
Sold by:
Smashwords
Format:
NOOK Book
Sales rank:
1,014,455
File size:
65 KB

Meet the Author

I have studied economics to postgraduate level. I never worked as an economist though. I worked in the field of charter accountancy and I completed the relevant professional exams (the Greek equivalent of the English A.C.A.). My essays are written for the general reader with no economic or accounting knowledge, and the emphasis is on intuition. All my documents are extremely pro market and quite anti-socialist in nature. I admire economists from the Chicago and the Austrian School i.e. Milton Friedman, Ludwig von Mises, Friedrich Hayek, Henry Hazlitt, Murray Rothbard. I am Greek and English is not my first language, so I hope you will excuse potential errors in my syntax.

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