Review of Austrian Economics
Author:
Richard H. Timberlake, Jr.
Online Publish Date:
would be, and the doctrines themselves have had less impact on current theory and policy than they would have had if they had focused their attention on points of devices became media of exchange. Primitive commodity moneys were varied and innovative (Jevons, 1898, 20-28). The more widely a given commodity money circulated, 1980, 216-22). Since monetary changes alter relative prices, von Mises argued, a policy to stabilize the price level would have to fix all relative prices and would