Monetary Theory

A "seizure" of possessions and an "injury" to the people have occurred because "what is declared to be more is worth less."

This audio essay, narrated by Gennady Stolyarov II, is found in The Austrian Theory of the Trade Cycle and Other Essays (pp.

"When you think about the current Fannie Mae-Freddie Mac crisis, you must remember Mises's theory of intervention."

Government and its henchmen are anxious to relegate into oblivion the fact that this rise is produced by an increase in the amount of money and money substitutes. They never mention this increase.

"The rationality, the effectiveness, and the justice of public policy which taxes enterprise according to one assumption while it gears, say, profit-incentive policies to its opposite is at least dubious."

From “Capitalism the Creator: The Mises Circle in Seattle,” a Curt and Allora Doolittle Seminar. Recorded 17 May 2008.

Let’s pull this sentence out of the civic pieties of our time and see what’s wrong with it: “We should all volunteer our time in

As with everything else in life, competition among conceptual frameworks is very healthy, since it can quickly highlight when an economist is likely abusing his favorite technique.

What Rothbard was describing, as have other Austrian-school economists, was the business cycle — when "businessmen are misled by bank credit inflation to invest too much in higher-order capital goods," like land, plant and equipment.

Capitalism should not be condemned, since we haven’t had it. Capitalism presumes sound money, not fiat money manipulated by a central bank.