Philipp Bagus

Key takeaways

Philipp Bagus belongs to astronomy; place it in that map before memorising details.
Learn the definition first, then one example that makes the definition concrete.
Connect Philipp Bagus to a quantity you can measure, compute or draw — that is where exam questions come from.
Reproduce the core statement of Philipp Bagus from memory before moving on to harder problems.

Reference excerpt

Philipp Bagus (born 1980) is a German economist and university lecturer. As a professor of economics, he teaches at the Rey Juan Carlos University in Madrid. He conducts research and publishes particularly on monetary policy and business cycle theory. Bagus is a Fellow of the Ludwig von Mises Institute, a member of the scientific advisory board of the Ludwig von Mises Institute Germany, and a member of the Friedrich A. von Hayek Society and the Mont Pèlerin Society.

Life Bagus attended the Kardinal-von-Galen-Gymnasium in Mettingen and studied as an Erasmus scholar at Rey Juan Carlos University in 2003/2004. He graduated with a Bachelor of Arts in 2005 and a Diplomvolkswirt (equivalent to a master's degree in economics) in 2006 from the Westfälische Wilhelms-Universität Münster. He earned his Ph.D. at Rey Juan Carlos University in December 2007 under Jesús Huerta de Soto. Guest professorships and teaching assignments have taken him to the universities of Münster, Bayreuth, Prague, Osnabrück, Iași, and Angers, as well as to the Universidad Camilo José Cela in Madrid. Since 2007, he has been teaching at Rey Juan Carlos University (Departamento de Economía Aplicada e Historia e Instituciones Económicas [y Filosofía Moral]), initially as Profesor ayudante, then as Profesor ayudante doctor, later as Profesor contratado doctor, and since 2020 as Profesor titular. Since 2017, he has been the chairman of the board of Elementum International AG, succeeding Hans J. Bocker. Bagus has published contributions in German-speaking and international academic journals, such as Wirtschaftsdienst, Journal of Business Ethics, Independent Review, and American Journal of Economics and Sociology. His book The Tragedy of the Euro, published in 2010, has been translated into numerous languages. Among other topics, it addresses the tragedy of the commons in relation to the Eurosystem. In 2011, he became a member of the "Frankfurter Zukunftsrat," initiated by Manfred Pohl. Some of his works have received multiple awards, and in 2016 he received the Ludwig-Erhard Prize for Economic Journalism.

Selected publications

The Tragedy of the Euro. Ludwig von Mises Institute. 2010. ISBN 978-1-61016-316-3. In Defense of Deflation. Springer International Publishing, Cham/Schweiz 2015, ISBN 978-3-319-13427-7 (aktualisierte Fassung der Dissertation aus dem Jahr 2007, Vorschau/PDF). Die Ära Milei. Argentiniens neuer Weg. Langen Müller, München 2024, ISBN 978-3-7844-3719-4. with José Antonio Peña-Ramos and Antonio Sánchez-Bayón: COVID-19 and the Political Economy of Mass Hysteria. In: International Journal of Environmental Research Public Health, 2021, 18 (4), p. 1376 (abstract). Reasons Why European Banks are in Trouble. In: Tho Bishop (Hrsg.): Anatomy of the Crash. Ludwig von Mises Institute, Auburn/Alabama 2020, ISBN 978-1-61016-722-2 (Google Books). with Jesús Huerta de Soto (main author) and Fabian Lair (coauthor): Die Theorie der dynamischen Effizienz (= Hayek-Schriftenreihe zum Klassischen Liberalismus, Band 4). Duncker & Humblot, Berlin 2020, ISBN 978-3-4281-8007-3 (Originaltitel: The theory of dynamic efficiency [= Routledge Foundations of the Market Economy, Band 28], 2008, PDF). with Andreas Marquart: Wir schaffen das – alleine! Warum Kleinstaaten einfach besser sind. Finanzbuch-Verlag, München 2017. The ZIRP Trap – The Institutionalization of Negative Real Interest Rates. In: Procesos de Mercado. Revista Europea de Economía Política, 2015, Band 12, Heft 2, pp. 105–163 (Zugang zum PDF). with Andreas Marquart: Warum andere auf Ihre Kosten immer reicher werden – und welche Rolle der Staat und unser Papiergeld dabei spielen. Finanzbuch-Verlag, München 2014. Austrian economics and new currency theory on 100% banking: A response to Huber. In: Procesos de Mercado. Revista Europea de Economía Política, 11 (1), 2014, pp. 105–136 (abstract). with Gerhard Schwarz (Hrsg.): Die Entstaatlichung des Geldes. Verlag Neue Zürcher Zeitung, Zürich 2014. Österreichische Konjunkturtheorie. Entwicklung und Relevanz der ÖKT für die heutige Wissenschaft und Wirtschaft. Diplomica Verlag, Hamburg 2014, ISBN 978-3-8428-9687-1 (Google Books). Mises’ Staats- und Interventionismuskritik. In: Thorsten Polleit (Hrsg.): Ludwig von Mises. Leben und Werk für Einsteiger. Finanzbuch-Verlag, München 2013, ISBN 978-3-89879-824-2 (Google Books). with David Howden: Some Ethical Dilemmas with Modern Banking. In: Business Ethics: A European Review, 22 (3), 2013, pp. 235–245 (PDF). with David Howden: Deep Freeze. Iceland’s Economic Collapse. Ludwig von Mises Institute, Auburn/Alabama 2011, ISBN 978-1-933550-34-3 (Google Books). Austrian Business Cycle Theory: Are 100 Percent Reserves Sufficient to Prevent a Business Cycle? In: Libertarian Papers, 2 (2), 2010, pp. 1–18 (PDF). The Quality of Money. In: The Quarterly Journal of Austrian Economics, 12 (4), 2009, pp. 22–45 (PDF). with David Howden: Qualitative Easing in Support of a Tumbling Financial System. A Look at the Eurosystem’s Recent Balance Sheet Policy. In: Economic Affairs, 21, Heft 4 (November 2009), pp. 283–300 (PDF). with David Howden: The Legitimacy of Loan Maturity Mismatching: A Risky, But Not Fraudulent, Undertaking. In: Journal of Business Ethics, 90 (3), 2009, pp. 399–406 (PDF). with Markus H. Schiml: Notenbankbilanzanalyse: Ein neues Werkzeug der Geldpolitik in der Subprime-Krise. In: Wirtschaftsdienst, 89. Jahrgang (2009), Heft 3, pp. 184–188 (Zugang zum PDF). with Markus H. Schiml: Bilanzpolitik und -analyse von Notenbanken im Kontext der Qualitätstheorie des Geldes. In: German Review of New Austrian Economics, 2. Jahrgang (2008), Heft 3. Österreichische Konjunkturtheorie aus heutiger Sicht. Grin Verlag, München 2008, ISBN 978-3-640-14490-7. Monetary Reform and Deflation – A Critique of Mises, Rothbard, Huerta de Soto and Sennholz. In: New Perspectives on Political Economy, 4 (2), 2008, pp. 131–157. Five Common Errors about Deflation. In: Procesos de Mercado. Revista Europea de Economía Política, 3 (1), 2006, pp. 105–123. Deflation – When Austrians Become Interventionists. In: The Quarterly Journal of Austrian Economics, 6 (4), 2003, pp. 19–35 (PDF).

References

External links Philipp Bagus search at Google Scholar Philipp Bagus, entry in Perlentaucher (in German) Philipp Bagus, page at misesde.org (in German)

Worked examples

Example 1 — a first encounter with Philipp Bagus

Start with the simplest possible case. Write down what Philipp Bagus claims or describes in one sentence, then invent the smallest concrete situation in which that sentence is true. In astronomy, the smallest case is usually a single object, a single equation or a single measurement. Check that every symbol or term in your sentence has a meaning in that case.

Example 2 — changing one variable

Take the situation from Example 1 and change exactly one quantity: double it, halve it, or set it to zero. Predict what should happen to Philipp Bagus before you calculate. Comparing your prediction with the result is the fastest way to find out whether you understand the idea or only the words.

Example 3 — an exam-style question

Typical questions about Philipp Bagus ask you to (a) state it precisely, (b) apply it to given data, and (c) explain a limitation. Practise writing all three answers in under five minutes; the third part is what separates a full-mark answer from an average one.

Applications of Philipp Bagus

In research: Philipp Bagus appears in astronomy research whenever the underlying quantities have to be modelled precisely. Papers usually cite it as a starting assumption and then explore where it breaks down.
In technology and industry: Engineering practice reuses Philipp Bagus in design rules, simulations and safety margins. Knowing the idea lets you read a specification sheet and understand why the numbers look the way they do.
In the classroom: Philipp Bagus is common in secondary-school and first-year university syllabi. It links to neighbouring topics 1980 births, 21st-century economists, Academic staff of King Juan Carlos University, so understanding it makes those chapters shorter.
In everyday life: Look for Philipp Bagus outside the textbook — in sport, cooking, traffic, electronics or the sky above you. An example you found yourself is remembered far longer than one you were given.

How to study Philipp Bagus in 20 minutes

Read the reference excerpt below once, without taking notes.
Close the page and write down what Philipp Bagus means in your own words.
Compare your version with the excerpt and mark what you missed.
Work through the three examples above with pen and paper.
Explain Philipp Bagus out loud to somebody else — or to Teacher Smith in the lgStudy chat.

Frequently asked questions

What is Philipp Bagus in simple terms?

Philipp Bagus (born 1980) is a German economist and university lecturer. As a professor of economics, he teaches at the Rey Juan Carlos University in Madrid.

Why does Philipp Bagus matter?

Because it connects several astronomy ideas at once: it gives you a definition you can apply, a quantity you can calculate, and a way to check whether a result is plausible.

How should I study Philipp Bagus?

Read the excerpt, restate it from memory, then work through the examples and applications listed on this page. The five-step study plan above takes about twenty minutes.

What does this page cover?

It gives you a compact reference excerpt plus original lgStudy explanations, examples, applications and study material on Philipp Bagus.