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.

Adam Smith noted in 1776 that “What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom.”

Fueled by almost frantic efforts to adjust and adapt in the face of intense inter- national competition, American industry undertook an immense cor

A generation after his death in 1950, Harold Laski, the eminent political scientist, socialist, and British Labour Party leader, is almost forgotte

Professor Spengler’s, “Richard Cantiilon: Fist of the Modems,” published in 1954, remains the classic survey article of Cantillon

Salim Rashid (1990) purports to have established some facts about Adam Smith’s scholarship, significant among which are (a) Smith’s pla