Monetary Theory

The debate over the Export-Import Bank continues, with the bank’s friends in Congress and other high places claiming that the Bank serves an

Volume 6, Number 4 (Spring 1987)

Joseph T. Salerno discusses measuring the money supply of the U.S. economy.

As Paul Samuelson once put it: Adam Smith is dead and Keynes is dead; well—and Mises is dead, too. But Keynesianism is alive and well and back with a vengeance. 

In no other field is the crucial importance of theory to history more obvious than in the field of economic history.

It is pretty well established within Austrian economics that the optimum quantity of money is whatever level is established at any given time.

It will be argued in this paper that the external-benefits and public-goods arguments are incorrect and are due to a failure to consider all or the

The present work is a doctoral dissertation written at the University of Hamburg. It deals with Mises’s work on monetary economics and business cycle theory. 

Adam Smith’s “invisible hand” sometimes works in such marvelously subtle ways that it remains nearly invisible even to economists

Recognizing different types of savings allows for a more fruitful analysis of the business cycle. Sustainable investment activities must be financed by an equivalent amount of savings, both in length of availability and quantity.