By Strömberg G.
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Additional resources for A Determination of the Solar Motion and the Stream Motion Based on Radial Velocities and Absolute Ma
On the other hand, these measures would be incapable of stopping the erosion of the purchasing power of the currency that is caused by inflation. Protective trade policies divert production from where it can best take advantage of natural conditions, and thus reduce the abundance produced by economic activity and depress the standard of living of the masses. In the eyes of classical economists, the use of interventionism appears as counter-productive in every respect; it is not from the interventions by the government, which only can hinder and hamper, but from the free rein of all forces that they expect a continuing increase in the welfare of all groups.
In his theoretical work, Cassel presents the teachings of 27 the subjective school, although he expresses himself somewhat differently and sometimes with a peculiar emphasis which is not quite worthy of imitation. Although stragglers of the historical school are still trying to sing the old song of the end of the collapse of the marginal utility theory, one cannot avoid noticing that the writings of all younger economists—even in the German empire—contain more and more the ideas and thoughts of the Austrian school.
They continued to look down upon serious theoretical work and to spread without inhibition the teachings of the omnipotence of the State over the economy in the knowledge that their position of power was guaranteed by governments and political parties. The experiments in economic policy which were carried out during the war and the years immediately following the war, catapulted interventionism and statism to the top. All these experiments, such as maximum prices, command economy, and inflation had the result that was predicted by the theoreticians that were so detested by statesmen and the representatives of the historical school.
A Determination of the Solar Motion and the Stream Motion Based on Radial Velocities and Absolute Ma by Strömberg G.