Bankovnictví částečných rezerv a jeho vliv na hospodářský cyklus

Abstract

The thesis aim is to analyze crisis based on the Austrian school point of view in last 200 years and verify validity of the Austrian business cycle theory. The thesis deals with the last 200 years by reason of capitalism which is connected with industrial revolution thus with problems with business cycles. The problem with business cycles consists in fractional reserve banking. Banks enterprising on fractional reserve can create money from deposits of clients and central bank manipulates with interest rate in the economy by creating money out of thin air. Monetery system sends the economy on the unsustainable track which results everytime in a crash. The thesis scrutinizes origins of crisis, their consequences and subsequent solutions. The thesis demonstrates how the Austrian business cycle theory matches historical events and contradicts so-called market failure. Contemporary monetary system causes big problems therefore the system needs reforming. The thesis solves how is the reform practicable and what are benefits and consequences of the reform.