Monetary Theory

Why do economists disagree on how to handle downturns? Chris Westley explains that some believe the market works and others do not.

Frank Chodorov proposed a sure fix for every case of waste, fraud, and abuse in government: abolish the program. William Stepp explains.

Kirzner's new book, reviewed by Robert Murphy, continues in his role of elaborating and, at times, correcting the work of his cherished mentors, Mises and Hayek. 

Fetter saw "economics as essentially the study of value, and has viewed all economic phenomena as the concrete expression, under varied circumstances, of one uniform theory of value.

Despite the many illustrious forerunners in its six-hundred year prehistory, Carl Menger (1840-1921) was the true and sole founder of the Austrian school of economics proper. He merits this title if for no other reason than that he created the system of value and price theory that constitutes the core of Austrian economic theory. But Menger did more than this: he also originated and consistently applied the correct, praxeological method for pursuing theoretical research in economics. Thus in its method and core theory, Austrian economics always was and will forever remain Mengerian economics.

Roger Garrison answers the question: why does news of strong economic growth often precipitate a fall in stock prices? 

Hans Sennholz issues of note of caution: fundamental maladjustments mar unprecedented growth of the US economy.

With its latest move to boost interest rates, the Fed is again clouding its role as the sole source of economy-wide price increases.

Greenspan recently said he is not sure what the money supply is. But money is like any commodity: it has a supply and it can be counted.

Richard Cantillon is virtually unknown today, but he pioneered a new way to examine social and economic affairs.