Money Supply vs. Liquidity. What’s the Difference?
Changes in money supply and liquidity are not the same thing.
Monetary Theory
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The Economics of Destutt de Tracy
Tracy's deductive methodology, his liberal approach to governmental affairs, and his subjectivism qualify him as a proto-Austrian economist who enjoyed considerable influence not only in France but also around the world.
Monetary Policy Flapping in the Wind
Professor Stephanie Kelton is the leading light of a bizarre proposal known as modern monetary theory. Government deficits are a “myth,” because they don’t matter, because they never need to be repaid. Gordon disabuses this magical thinking.
Austrian Economics versus Keynesian Macroeconomics and Modern Monetary Theory
Presented at Mises University 2020.
Bob Murphy Reviews Stephanie Kelton’s New Book on MMT
Bob wrote a lengthy review of Stephanie Kelton's new book on MMT, The Deficit Myth, for the Mises Institute. In this episode he narrates his review.
Mises on the Velocity of Circulation
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.
A Review of Stephanie Kelton’s The Deficit Myth
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.
A Review of Stephanie Kelton’s The Deficit Myth
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.
To Prevent Problematic Inflation, We Need More Production. Which Means There’s Trouble Ahead.
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.
