Types of economic systems and their criteria

Mankind in its difficult history has already “experienced” quite a lot of different economic systems. This gives grounds to raise the question of their classification. Classification in science is always a complex matter. Its success, scientific validity largely depends on the correctly selected “key”. Such a “key” is the criterion of separation, i.e. its main […]

Bankruptcy: the concept, causes and factors causing it

Bankruptcy is the insolvency of the debtor, which has or acquires a stable character, recognized by the economic court or lawfully declared by the debtor. In economically developed countries, bankruptcy is considered as a normal phenomenon of economic life. It is designed to play a crucial role in the system of functioning of the economy […]

The theory of floating exchange rates

Representatives of this theory are mainly economists of the neoclassical (monetarist) direction, who preferred freely fluctuating exchange rates. Among them are M. Friedman (head of the Chicago School), F.Mahlup (University of Prestones), A. Lindbek (Stockholm University), G. Johnson (Chikag and London Universities), L. Erhard, G. Girsch, E. Durr (Freiburg School in Germany) and others. The […]