Monetary Theory

In my opinion there is a reason why Austrian monetary policy views are largely not shared by the mainstream. It is not due to a grand conspiracy against Austrian scholars but due to their monocausal,

An adaptive systems approach is used to compare a free banking system and a central banking regime with respect to their respective capacities to use and generate relevant knowledge.

There seems to be a lot less disagreement between Rothbard and Rashid than meets the latter’s eye. The biggest issue on which there is a gap separating 

The aim of this paper is to criticize the foundation and the relevance of the insulation argument. In what follows, I will attempt to show that: (1) The favor flexible exchange rates enjoy 

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. 

Much has been written about the quantity of money and its effects on money’s purchasing power. However, changes in the quality of money have been widely neglected. 

There is no evidence in Hayek's published work that the notion of an end-state ever held any interest.  Across more than 60 years of original publications, Hayek's notion of equilibrium was well-defined, dynamic

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

Don Bellante and Roger W. Garrison (1988) compared two alternative explanations of monetary dynamics: those based on a vertical long-run Phillips curve and those derived from analysis of Hayekian triangles.