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"The essential difference between rich societies and poor societies does not stem from any greater effort the former devote to work, nor even from any greater technological knowledge the former hold. Instead it arises mainly from the fact that rich nations possess a more extensive network of capital goods wisely invested from an entrepreneurial standpoint."

— Huerta de Soto, Jesús event 1998

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Money, Bank Credit, and Economic Cycles

person Huerta de Soto, Jesús event 1998

The most systematic modern statement of the Austrian theory of the business cycle, demonstrating through history, legal theory, and economics that ...

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Huerta de Soto, Jesús

Spanish economist and professor at King Juan Carlos University in Madrid, the leading champion of the Austrian School in the Spanish-speaking world...

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Time Preference

The economic principle that individuals value goods and services more highly in the present than in the future, all else being equal. This preferen...

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