This paper explores the nature of Economics, examining its core definitions and delving into its philosophical underpinnings. Unlike the natural sciences, Economics lacks a universally accepted object of study and relies on fabricated indicators like GDP and inflation. The discussion highlights the Austrian School of Economics, which, rooted in praxeology and the a priori principles of human action as articulated by Ludwig Von Mises, presents a heterodox view. This perspective challenges conventional Neoclassical and Keynesian approaches, emphasizing logical deduction over empirical methods. Additionally, the paper critiques the use of mathematics in Economics from the Austrian viewpoint, arguing that mathematical models oversimplify human behavior and fail to capture the dynamic, subjective nature of economic interactions.
Articles
AI, Science Automation and Explosive Growth
Author: XAVIER FERRÉS and MILANA LISICHKINA Abstract Advanced artificial intelligence could cause the automation of many areas currently dominated by humans, including science. This paper argues for the view that if AI was capable of automating science, then explosive growth, i.e. at least 30% GWP yearly growth, would very likely follow as a result. Explosive…
A study on the determinants of growth and political stability in the neoclassical model framework
Author: ROGER CASAS RIU 1 Introduction In alignment with contributions like Robert J. Barro’s Economic Growth in a cross section of countries (Barro, 1991) the main scope of this project is to study whether or not convergence, as predicted in neoclassical growth models, is a reasonable result. Therefore, this empirical study aims to further contribute…
Why Economics: Business & Finance
Amb Luz Parrondo i Ernest Solé Author: JAUME VIÑAS I TARRADAS | From Why Economics 2024 En certs punts de la història podem observar canvis tecnològics que han capgirat l’statu quo econòmic i han creat un nou paradigma de treball. Tot i que la revolució en les intel·ligències artificials i les criptomonedes pugui semblar relativament…
The rise and fall of Silicon Valley Bank
Author: JOSEP SABATÉ TOMÀS Abstract This article analyzes the collapse of Silicon Valley Bank from a multidimensional perspective. Firstly, it examines the fundamental characteristics of the bank, including its failed investments in securities and lack of diversification. Additionally, it explores external events that significantly impacted the bank, such as the rise in interest rates. The…
State intervention in the economy
Authors: XÈNIA ALEMANY, SOFIA GROIZARD
The article introduces the discussion on the necessity of state regulation of the market through a micro level and at a macro level using mainly the statements of Keynes and Friedman, two opposite economists on the topic. The essay goes through the pros and cons of each part and ends up on a state intervention position.
Financial illiteracy
Author: JOSEP SABATÉ TOMÀS Abstract In a world of relentless economic adversity and a complex global environment, financial illiteracy is the last thing you want. This article addresses the implications of the absence of meaningful financial education, both for society and for our daily individual decisions. At the same time, it provides an evaluation of…
On natural intelligence
Author: MARIAN OLIVERAS ALONSO Download the full article below: Massive changes in our behavioral patterns are undoubtedly imminent within the next few years, given that most of the limited and flawed human thinking processes may soon be replaced by AI. These new technologies have baffled the world with their capabilities and skills to solve in…
Does it make sense to dollarize Argentina?
Author: MANUEL BERMEJO FONTANET Dollarization of Argentina from an economic perspective Download the full article below: After fifty years of five currency changes, an accumulated devaluation of thirteen zeros, three defaults, and a hyperinflationary period, the ultraliberal economist and presidential candidate Javier Milei has focused his attention on dollarization as a central piece of his…
Exploring the underground economy
Authors: LUCÍA MONTEJANO and XÈNIA ALEMANY An analysis of cash withdrawal policy Download the full article below: In recent years, the debate on the limitation and abolition of cash has ained considerable attention and has become increasingly urgent in light of the growing prevalence of electronic payments. This article seeks to explore the potential benefits…