EAN: 9783319959023

INVESTING IN THE AGE OF DEMOCRACY - MORTEN ARIS...

This book offers a structured  deductive approach to Austrian investing  beginning with an
analysis of the current investing paradigm. There are five economic concepts on which the
Austrian School of Economics has a unique view: Entrepreneurship  Class Probability  Capital 
the Interest Rate  and Institutions. This book explains  lesson by lesson  how each of
theseshapes our thinking about investing. If we follow them through their logical consequences
they leave us with a unique approach to investing. Except for the theory of probability  there
has not been a comprehensive analysis of the linkages between these concepts  when it comes to
investing. Although they would have been obvious to the average investor before the age of
democracy  since the French and American revolutions  government interventions have steadily
transformed the way we think about them (and the way we invest). Above all  Entrepreneurship
and Institutions are downplayed today  while investors use Case Probability  and confuse the
concepts of Money and Capital. This book offers a historical review of these interventions  to
shed light on how we went from what was common sense to the status quo. Offering a sometimes
technical analysis  the book examines a series of fundamental investment fallacies  their
origins and how not to fall for them.

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