Coda: The conclusion of the matter

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Chapter 9 in The Economics of Prosperity, 2023, pp 208-211 from Edward Elgar Publishing

Abstract: The general theory of economic prosperity draws upon the Austrian tradition of economics, explaining how economic progress is the happy consequence of a highly developed division of labor, taking advantage of an increasing capital structure, embodied in technically advanced capital goods, all wisely invested by entrepreneurs. All the economic activity generating economic prosperity requires the institutions of private property and sound money. Private property, however, only makes economic expansion and development possible. People living in a free society must have values that both support the institutions of private property and sound money as well as laboring, exchange, thrift, industriousness, capital formation, technical innovation, and entrepreneurial venturing.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2023
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