Monetary Theory

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A Short Essay on Sound Monetary Policy

Money and BanksGold StandardMonetary Theory

Blog01/07/2023George Ford Smith

In a market economy, gold is sound money. There is no need for monetary authorities when gold rules.

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Father Time versus Central Bankers

Central BanksThe FedMonetary PolicyU.S. EconomyMonetary TheoryMoney and Banking

Blog12/14/2022Jeff Deist

Only Father Time helps us cut through the policy nonsense and understand interest rates conceptually.

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Rothbard on Gold

HayekGold StandardMonetary Theory

Blog11/01/2022Llewellyn H. Rockwell Jr.

At a time when inflation once again ravages the dollar, we recall Murray Rothbard's wisdom in his article "The Case for a Genuine Gold Dollar."

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Can the Dollar Once Again Be Anchored by Gold? One Congressman Believes It Can

Monetary PolicyGold StandardMonetary Theory

Blog10/29/2022Thorsten Polleit

The Gold Standard Restoration Act seeks to once again tie the US dollar to gold.

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Ben Bernanke's Nobel Prize: The Committee Rewards an Arsonist for Claiming to Fight the Fire He Started

Booms and BustsMonetary TheoryMoney and Banking

Blog10/10/2022Mark Thornton

Former Fed chairman Ben Bernanke and two other economists have received the Nobel in economics this year. Their work on banking is weak on causality and fails to recognize the damage done by the central bank.

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The Velocity of Money Circulation Is Another Economic Myth

KeynesMonetary PolicyMonetary Theory

Blog10/07/2022Frank Shostak

Anyone who has taken a Keynesian-based macroeconomics course remembers the equation of exchange: MV = PY. This equation, however, is buried in fallacious economic thinking.