Monetary Theory

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Mises Institute

What's the best book on money ever written? That's an easy one: What Has Government Done to Our Money? by Murray N. Rothbard. The Mises Institute is bringing out a new edition, and uniting it with Rothbard's radical blueprint for monetary reform. You can help.

Robert P. Murphy

The Bush plan claims to increase capital accumulation because of its superficial emphasis on investment, writes Robert Murphy. But it is a total shell game.

Robert Blumen

The Real Bills Doctrine (RBD) has a long and controversial history, writes Robert Blumen. Many of the key concepts originated with the monetary crank John Law.

Antony P. Mueller

Writes Antony Mueller: Coercive capital-based systems do not eliminate the vicious cycle of wealth destruction.

Murray N. Rothbard

Murray Rothbard, in this classic essay originally published in 1991, offers the most "pure" proposal of all: private mintage, 100 percent reserve banking, circulating coins, full convertibility.

Thorsten Polleit

Although, on a global level, consumer price inflation appears rather muted at present, writes Thorsten Polleit of Barclays, there are indications that the devaluation of money might be taking a new route.

Toby Baxendale

Toby Baxendale argues that Austrian economics has its own contribution to make to the method of hedge funds.

Frank Shostak

Current monetary policy, writes Frank Shostak, is based on a theory of Knut Wicksell. How does Wicksell stack up to Mises?

Christopher Westley

Many parents force their children to save. But the state is not our parent, writes Chris Westley. It doesn't have our best interests at heart.