Principles of Monetary & Financial Sustainability and Wellbeing in a Post-COVID-19 World: The Crisis and Its Management

Abstract

This paper analyses the COVID-19 crisis and its management from the perspective of Austrian Economics. The attention focuses on the State’s coercive intervention according to the principles of political economy, capital theory and Austrian business economic cycles. The paper examines the specific case of massive intervention by governments and, especially, central banks in monetary and financial markets to deal with the pandemic trying to mitigate its negative effects. The paper offers a critical analysis of government tax policies and the increase in public spending, considered as the panacea and universal remedy for the social troubles. This review concludes with a proposal to change the mainstream paradigm, thereby proposing a more sustainable and wellbeing economics. My contribution consisted of the leadership of the research team, the elaboration of the theoretical framework as well as the revision and connections of the different versions of the manuscript Indicios de calidad: Revista JCR Q2 WoS SCI, SSCI & SCIE y artículo con 17 citas (impact factor: 3,25; Environmental Sciences: Management, Monitoring, Policy and Law; Social Sciences: Planning & Development. Additional WoS: Current Contents Social & Behavioral Sciences, Essential Science Indicators, Web of Science Master Journal List - Search (clarivate.com)). Scopus & SJR Q1 Social Sciences: Planning & Development (CiteScore 3,9, Sustainability (scimagojr.com)). Crossref: 17 citas; Scopus: 18 citas; Google Scholar: 40 citas. ICDS: 10.3 (MIAR: SUSTAINABILITY - 2071-1050 | MIAR 2021 live. Matriz de Información para el Análisis de Revistas (ub.edu))