KAREL ENGLIŠ AS THE GOVERNOR OF THE CZECHOSLOVAKIAN NATIONAL BANK (1934-1939)
KAREL ENGLIŠ AS THE GOVERNOR OF THE CZECHOSLOVAKIAN NATIONAL BANK (1934-1939)

Summary/Abstract: This paper explores the philosophical and economic underpinning of Karel Engliš’s ideas, not only in theoretical terms, but also in the practical context of his tenure at the helm of the Czechoslovakian national bank. This paper aims to introduce and compare Karel Engliš's teleological approach to economics with his practical work as the governor of the Czechoslovakian national bank, drawing on archival sources, Engliš's own writings, and secondary literature. In addition, several hypotheses are considered. First, the paper examines whether Engliš's governance can be deemed successful, arguing that, overall, it was. Second, it explores whether Engliš successfully stabilized the Czechoslovakian crown during a period of deflation, finding that this hypothesis was confirmed. Third, the paper delves into Engliš's paradoxical turn from a proponent of limited state intervention to an advocate for active state intervention, exploring how this shift can still be reconciled within the framework of Engliš's teleological and individualistic economic philosophy. Ultimately, this paper sheds light on Engliš's unique perspective on economics and governance, and illuminates the ways in which his ideas continue to resonate in contemporary discourse.

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