Monetary 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. 

Austrian monetary thought can be traced back right to the very founding father of monetary economics, the great Nicholas Oresme, the 14th century Bishop of Lisieux.

Bob shows why Ludwig von Mises thought any issuance of fiduciary media caused the boom-bust cycle.