Monetary Theory

The Understanding Money Mechanics series by Robert P. Murphy, is a comprehensive overview of the theory, history, and practice of money and banking, with a focus on the United States.

Tomáš Frömmel contends that a negative inflation target combined with the Taylor Rule can be a non-distortionary monetary policy consistent with Austrian business cycle theory.

With this analysis of gift giving, we're reminded that mainstream economists seem hell-bent on reforming anything they haven't already screwed up.

Presented at the Mises Institute's "First Annual Advanced Instructional Conference in Austrian Economics" at Stanford University.

"I am not saying that fiat money, once established on the ruins of gold, cannot then continue indefinitely on its own. Unfortunately … if fiat money could not continue indefinitely, I would not have to come here to plead for its abolition."

Rahim Taghizadegan from the independent Viennese Scholarium offers a European perspective on the anti-economics of negative interest rates

The boom produces impoverishment. But still more disastrous are its moral ravages. It makes people despondent and dispirited. The more optimistic they were under the illusory prosperity of the boom, the greater is their despair and their feeling of frustration.

Saifedean Ammous explains why Austrian economics helps us understand Bitcoin, and how Bitcoin can help us understand Austrian economics.

The Fed would have us believe that it has am impressive record of success in preventing recessions and improving the economy. The actual historical record suggests otherwise.

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.