Huerta de Soto, J.; Sánchez-Bayón, A.; Bagus, P. Principles of Monetary & Financial Sustainability and Wellbeing in a Post-COVID-19 World: The Crisis and its Management. Sustainability2021, 13, 4655.
Huerta de Soto, J.; Sánchez-Bayón, A.; Bagus, P. Principles of Monetary & Financial Sustainability and Wellbeing in a Post-COVID-19 World: The Crisis and its Management. Sustainability 2021, 13, 4655.
Huerta de Soto, J.; Sánchez-Bayón, A.; Bagus, P. Principles of Monetary & Financial Sustainability and Wellbeing in a Post-COVID-19 World: The Crisis and its Management. Sustainability2021, 13, 4655.
Huerta de Soto, J.; Sánchez-Bayón, A.; Bagus, P. Principles of Monetary & Financial Sustainability and Wellbeing in a Post-COVID-19 World: The Crisis and its Management. Sustainability 2021, 13, 4655.
Abstract
This paper analyses the COVID-19 crisis and its management, under the Austrian Economics. The attention is focused in the States’ coercive intervention, to evaluate the positive or negative effects of pandemic, according to the Principles of Political Economy and the theory of capital and economic cycles. The paper examines the specific case of massive intervention by governments and, especially, central banks in monetary and financial markets to deal with the pandemic by seeking to lessen its effects. Also, it is offered a critical analysis on simultaneous government policies involving taxes and an increase in public spending which are presented as the panacea and universal remedy for the evils that afflict the society, instead of promoting the transit to Wellbeing Economics. To conclude the review, there is a proposal of paradigm review, in the way to offer a sustainable model.
Keywords
pandemic; monetary theory; financial sustainability; Wellbeing Economics; Political Economy.
Subject
Business, Economics and Management, Economics
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
