Philipp Bagus

Philipp Bagus is professor at Universidad Rey Juan Carlos. He is a Fellow of the Mises Institute, an IREF scholar, and the author of numerous books including In Defense of Deflation and The Tragedy of the Euro, and is coauthor of Blind Robbery!, Small States. Big Possibilities.: Small States Are Simply Better!, and Deep Freeze: Iceland’s Economic Collapse. He was awarded the 2011 and 2017 O.P. Alford III Prize in Libertarian Scholarship, the Ron Paul Liberty in Media Award (2003), the Templeton Fellowship Award of the Independent Institute in 2008, and the Ludwig-Erhard-Forderpreis (2016). The Tragedy of the Euro has so far been translated and published in Greek, German, French, Slovak, Polish, Italian, Romanian, Finnish, Spanish, Portuguese, British English, Dutch, Brazilian Portuguese, Bulgarian, and Chinese.

Articles

In Defense of Milei

09/10/2024 Power & Market Philipp Bagus Bernardo Ferrero

[Editor’s note: The Mises Institue does not endorse any particular candidate, political strategy, political coalition, or political party. This article reflects the views of the author and should not...

100-Percent Reserves banking in Argentina and the Real Bills Doctrine

04/17/2024 Power & Market Philipp Bagus

My latest contribution to the debate on Milei´si banking reform and the 100% reserve ratio has received a response in form of a video by Juan Ramón Rallo who defends a fractional reserve banking...

On 100-Percent Reserves, Milei, and Argentina

04/11/2024 Power & Market Philipp Bagus

Unsurprisingly, Javier Milei´s monetary reform plans are discussed intensively in libertarian circles. For the first time, a real libertarian reform of the monetary and financial system is in sight...

Publications

Full Reserve Banking versus the Real Bills Doctrine

07/03/2024 Philipp Bagus

In Full Reserve Banking versus the Real Bills Doctrine, Philipp Bagus defends Austrian monetary theory and full reserve banking against the real bills doctrine. Responding to economist Juan Ramón Rallo’s critique of Ludwig von Mises’s The Theory of

The Tragedy of the Euro

12/08/2010 Philipp Bagus

Philipp Bagus, professor of economics at Universidad Rey Juan Carlos in Madrid, is a young scholar with a large influence, having forecast all the problems with the Euro and having persuaded many economists on the Continent that this currency is no

Deep Freeze: Iceland’s Economic Collapse

02/24/2011 Philipp Bagus David Howden

It was a modern thriving economy one day, and then, suddenly, the food disappeared from the shelves, the banks closed, and the ships stopped arriving. Iceland in 2008 experienced an unprecedented economic meltdown that struck fear in the hearts of

Media

Philipp Bagus on the Flaws in the “Real Bills” Doctrine

10/11/2024 Robert P. Murphy Philipp Bagus

Dr. Philipp Bagus explains the main ideas from his new book which defends Misesian business cycle theory from a recent critique.

Germany’s New Green Stimulus Plan Won’t Save Their Economy

01/28/2022 Philipp Bagus

Germany's government is pushing a new plan for massive spending on a "Climate Fund." This is justified with the usual Keynesian myths about the benefits of government spending.

Why Europe’s Left Wants a European Financial Superstate

03/12/2021 Philipp Bagus

If Europe wants to build wealth for its poorest members, it needs private entrepreneurship. But entrepreneurs need exactly the opposite of the Keynesian plan for building a European superstate.