Jesús Huerta de Soto facts for kids
Quick facts for kids
Jesús Huerta de Soto
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Jesús Huerta de Soto in 2014
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| Born | 23 December 1956 Madrid, Spain
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| Nationality | Spanish |
| Institution | Universidad Rey Juan Carlos |
| Field | Political economics |
| School or tradition |
Austrian School |
| Influences | Ludwig von Mises, Carl Menger, Eugen von Böhm-Bawerk, Friedrich Hayek, Murray Rothbard, Israel Kirzner |
| Awards | King Juan Carlos International Prize for Economics, Adam Smith Prize, Franz Kuechel Prize for Excellence in Economic Education |
Jesús Huerta de Soto Ballester (born December 23, 1956) is a Spanish economist. He is part of the Austrian School of economic thought. He works as a professor at King Juan Carlos University in Madrid, Spain. He is also a Senior Fellow at the Mises Institute.
Contents
Education and Career Highlights
Jesús Huerta de Soto studied economics at Complutense University. He earned his first degree in 1978 and his PhD in economics in 1992. He also received an MBA from Stanford University in 1985.
In 2000, he became a full professor of Political Economy. This means he teaches about how politics and economics are connected. Since 2007, he has led the Master's Program in Austrian Economics at Rey Juan Carlos University.
He helped edit many books by a famous economist named F. A. Hayek. He is also on the board of several economic journals. These journals publish articles about new ideas in economics. He was also a leader in the Mont Pelerin Society for a few years. This is a group of economists who support free markets.
Understanding His Economic Ideas
Jesús Huerta de Soto has strong views on how economies should work. He believes in a lot of freedom for individuals.
Beliefs About Government Power
Huerta de Soto is sometimes called an anarcho-capitalist. This means he believes in very little government involvement in the economy. He thinks that governments often have too much power. He argues that even ideas like "classical liberalism," which aims to limit government, haven't gone far enough. He wants people to have more control over their own choices.
Views on Economic Models
Some economists use models to understand the economy. One such model is called "general equilibrium theory." This theory tries to show how all parts of an economy, like prices and supply, balance out. Huerta de Soto doesn't think these models are very useful. He believes they don't truly show how people make decisions in the real world.
Banking and Economic Cycles
Huerta de Soto strongly supports a system called full-reserve banking. In this system, banks would keep all the money that people deposit. They would not lend out any of it. He believes this would stop banks from creating new credit. He thinks this would make the economy more stable. It would also help prevent big ups and downs, known as "business cycles."
In 2006, he wrote a very long book about this idea. It's called Money, Bank Credit, and Economic Cycles. In his book, he argues that the way banks work now can cause problems. He believes that banks lending out money they don't fully have can lead to economic crises.
Some people agree with his ideas, saying his book is very important. Others disagree. They argue that banks' customers might be okay with some risk. They might want the benefits that come from banks lending out money. Huerta de Soto, however, thinks that most people don't fully understand these risks. He believes they think their money is always safe in a bank.
Thoughts on Money and Banking History
Huerta de Soto has also studied the history of banking. He has looked at how ideas about money and banking have changed over time. He has explored the views of the School of Salamanca. This was a group of thinkers from Spain in the 1500s and 1600s. They had important ideas about economics and law.
Special Honors
Jesús Huerta de Soto has received several honorary doctorates. These are special degrees given to people for their achievements.
- Universidad Francisco Marroquín (2009)
- Alexandru Ioan Cuza University (2010)
- Finance University under the Government of the Russian Federation (2011)
See also
In Spanish: Jesús Huerta de Soto para niños
