Monetary Theory

It is the Mises Institute's great pleasure to introduce Carl Menger's 1871 book Principles of Economics to an online audience.

There are some bright spots in the American economy, but look beneath the surface. Stefan Karlsson warns that the downside of bad policy may have been merely postponed. 

Cast aside all the trumped up claims concerning the power of the central bank to achieve price stability, writes Antony Mueller.

Gilligan's Island economics can provide useful thought experiments, writes B.K. Marcus, for the same reasons Robinson Crusoe economics has served as a staple of classical and Austrian School economics texts.

Just when the supposed threat of disinflation passed, now comes another frightful creation from the fearsome flation family: stagflation. Sean Corrigan explains.

Joseph Salerno writes about a long-term look at this conventional wisdom that shows that 90 percent of deflations since 1820 have not resulted in depression.

The quantity theory of money at least focused on the right issue, writes Joseph Salerno. No more.

It was reported last week that the M3 money supply has increased at a breathtaking 20% annual rate in the last 4 weeks, going up $155 billion. Coincidently (or not), the Bureau of Land Management (BLM) held another of its semi-annual land auctions in Las Vegas.

What the prophets of the new housing paradigm don't discuss, writes Mark Thornton, is that real estate markets have experienced similar cycles in the past.

China has experienced one of the great economic transformations in the history of the world, writes Frank Shostak. But will it last?