Monetary Causes of the Instability of Financial Systems

• Autorzy: Mieczysław Dobija
• Języki publikacji: EN

Abstrakty

EN

This study stresses that economics scarcely implements such fundamental laws as the first and the second law of thermodynamics, yet without these fundamental laws nothing can be correctly understood or carried out. What is worse, the activities of central banks often run contrary to the first law, creating money for commercial banks' use, which is an abnormal situation and an experiment in creating energy from nothing. It cannot work positively. (fragment of text)

Słowa kluczowe

EN

Financial system; Labour productivity; Public sector; Conversion; Central banks

PL

System finansowy; Produktywność pracy; Sektor publiczny; Konwersja; Banki centralne

• Czasopismo: Argumenta Oeconomica Cracoviensia
• Rocznik: 2010
• Numer: no 6
• Strony: 33--50

Twórcy

autor

Mieczysław Dobija

• Cracow University of Economics, Poland

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