Monetary Theory

Selgin and White commence their defense of monetary systems with fractional-reserve banking, provided they are based on gold specie money.

Austrians frequently lament the absence of an Austrian undergraduate money-macro curriculum, especially at the intermediate level. 

Almost all contemporary Austrian economists are united in their opposition to central banking and their advocacy of a system of free competitive banking.

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. 

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