Czech Republic

Joseph A. Schumpeter introduced the concept of “creative destruction”. He explains that cycles are inherent to the market economy. He provides his definitions of capitalism, the entrepreneur, and inflation. Franz Kafka observes that believing in progress does not mean believing that any progress has yet been made. His view is that the perception of wealth is completely relative. The place of Paris in the world is how Milan Kundera explains brand image. He ironizes about the usefulness of human beings and denounces communism. Vladimír Rencin, Johann Amos Comenius, Stanislav Komenda, and Vladimír Syrovatka provide their insights into money. Eugen von Böhm-Bawerk explains that there is nothing objectionable in charging interest. On the subject of the environment, Vladimír Syrovatka’s view is that where the economy blooms, flowers wilt, and that to expect unlimited growth on a limited planet is nonsensical. Concerning our attitude to climate change, Vladimír Syrovatka writes: “Our consumerist paradise can be compared to the Titanic; there is still dancing on the upper decks”. His view was that industrialisation leads to wars. Miroslav Kemel concludes that: “According to all indexes, the safest option is still to invest into corruption”. Tomáš Sedláček’s view is that economics is a belief like all others. Jan Werich explains why mankind created time. Tomáš Baťa defines a good trade and provides tips on how to succeed in business.