From the session on “Studies in Economic History,” presented at the Austrian Economics Research Conference. Recorded 22 March 2013 at the Ludwig von Mises Institute in Auburn, Alabama.
“It had come to be accepted that the pigs, who were manifestly cleverer than the other animals, should decide all questions of farm policy, though their decisions had to be ratified by a majority vote.” Orwell, G. (1989 [1945]), Animal Farm, S. 34. The Starting Point: Civilization Begins The founder of the Medici banking dynasty, Giovanni di Bicci
Thorsten Polleit of the Frankfurt School of Finance, and an Associated Scholar of the Mises Institute, recently spoke with the Mises Institute about central banks and fiat money. Mises Institute: Central banks keep increasing the money supply, and yet it looks like there’s still confidence in those fiat currencies. Thorsten Polleit: Indeed.
As I explained in my Mises Daily article on Friday , on 15 November 1923, German hyperinflation was finally brought to a halt. That was 90 years ago. This image is titled: “Gutenberg and the billion press”. The subtitle is: “I never intended this”. It is taken from the German satirical magazine Simplicissimus , 1923. It was put out after the
Writes Robyn Blumenthal at Barron’s today: The index argues that record-tall buildings are evidence of a business cycle peaking out and thus predict economic distress. The index has seemingly been on the mark at times. Lawrence claims record buildings foreshadowed the Panic of 1907 (New York’s Singer and Met Life towers), the Great Depression (the
Monday: Human Reason and A Priori Economics by David Gordon Tuesday: Europeans Looking To Inflate Their Debts Away by Andrew Cullen Wednesday: Lawyers, Film, and Money: Copyrighting the First Movies by Brian LaSorsa Thursday: The Economics of ObamaCare by Robert P. Murphy Friday: 90 Years Ago: The End of German Hyperinflation by Thorsten
On 31 October, basically all major central banks have made their already outstanding “liquidity swap agreements” permanent . According to the Wall Street Journal: FRANKFURT--Six of the world’s most important central banks have agreed to standing currency swap arrangements until further notice, the European Central Bank said Thursday. The ECB,
Congratulations to Associated Scholar Per Bylund who writes: I have just accepted an offer to serve on the Journal of Management Studies ’ editorial board. It is a highly regarded outlet for research in management and business, and the journal was ranked (ISI) 6/116 in Business and 12/174 in Management in
El 15 de noviembre de 1923, se dieron pasos decisivos para acabar con la pesadilla de la hiperinflación en la República de Weimar: El Reichsbank, el banco central alemán, dejó de monetizar deuda pública y se emitió un nuevo medio de intercambio, el Rentenmark, para sustituir al Papiermark. Estas medidas consiguieron detener la hiperinflación, pero
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