Monetary Theory

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Money Supply vs. Liquidity. What's the Difference?

Monetary Theory

Blog10/27/2020

Changes in money supply and liquidity are not the same thing.

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Mises on the Velocity of Circulation

Monetary Theory

Blog07/07/2020

In this short essay recently found in the Mises Institute Archives, Mises goes over the basics of monetary theory and shows why the concept of velocity of circulation is useless for understanding changes in the purchasing power of the monetary unit.

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A Review of Stephanie Kelton’s The Deficit Myth

Book ReviewsMonetary PolicyTaxes and SpendingMonetary Theory

Blog06/23/2020

The good news is that Stephanie Kelton has written a book on MMT that is very readable and will strike many readers as persuasive and clever. The bad news is that Stephanie Kelton has written a book on MMT that is very readable and will strike many readers as persuasive and clever.

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To Prevent Problematic Inflation, We Need More Production. Which Means There's Trouble Ahead.

InflationMonetary TheoryOther Schools of Thought

Blog05/25/2020

Price inflation is so difficult to predict, because there are so many moving parts: money supply, demand, money velocity, and supply of goods and services.

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Bitcoin and the Theory of Money

History of the Austrian School of EconomicsMonetary Theory

Blog04/29/2020

In the latest installment of Understanding Money Mechanics, Robert Murphy explains what Bitcoin is, how it works, and how it fits into Misesian monetary theory.

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Why Deflation Can Be a Good Thing

Booms and BustsInflationMonetary TheoryOther Schools of Thought

Blog03/06/2020

Brazilian journalist André de Godoy interviews economist and Mises Institute scholar Antony Mueller on the nature of money, banking, and prices.

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The Theory and Brief History of Money and Banking

The FedMonetary TheoryMoney and Banking

Blog01/29/2020

Why do we have money in the first place? Where does it come from, and what determines its form? What qualities make for a good money? What role do banks play—is it something other than what money itself does for us?

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More Money Creation Won't Create More Economic Growth

Monetary TheoryMoney and BankingValue and Exchange

Blog01/13/2020

Contrary to the popular way of thinking, setting in motion a consumption unbacked by production through monetary pumping will only stifle economic growth.

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A Rothbardian Take on Negative Interest Rates

Money and BanksMonetary TheoryMoney and Banking

Blog08/19/2019

Joe Weisenthal is questioning whether people should be able to deposit their money in a checking account and be paid interest on it — Rothbardians have been saying that for decades. 

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