3 Results for Tag: austrian

Fiat Money

DefinitionFiat money is a currency without intrinsic value that has been established as money, often by government regulation. Fiat money does not have use value, and has value only because

Jean-Baptiste Say

DefinitionJean-Baptiste Say was a French economist and businessman. He had classically liberal views and argued in favor of competition, free trade, and lifting restraints on business. He is

Creative Destruction In Economics

Creative Destruction In Economics Creative destruction, sometimes called Schumpeter's gale, is an idea people studying economics theory say may lead to innovation in the business cycle. Karl