Money and Banking

Despite support from some economists in the free market camp, fractional reserve free banking is doomed for failure, as Murray Rothbard pointed out.

Despite support from some economists in the free market camp, fractional reserve free banking is doomed for failure, as Murray Rothbard pointed out.

Far from being what Keynes called that “barbarous relic,” gold has been important throughout history, and to the present day. Joakim Book reviews The Secret History of Gold: Myth, Money, Politics & Power.

Mises described the problem, Hayek proposed the direction, Kirzner explains why the market will not stop. And the market, as so many times before, has already found the first step.

Mises described the problem, Hayek proposed the direction, Kirzner explains why the market will not stop. And the market, as so many times before, has already found the first step.

Before J. M. Keynes and Stephanie Kelton, there was John Law. The promise of free money never seems to die.

Before J. M. Keynes and Stephanie Kelton, there was John Law. The promise of free money never seems to die.

Despite the claims of the chartalists and modern monetary theory advocates, early American monetary history tells a much different story. In fact, much of the historical evidence illustrates Menger’s theory.

In this week’s Friday Philosophy, Dr. David Gordon reviews Joseph Salerno’s Money, Sound and Unsound, and still finds it golden.

Despite the claims of the chartalists, early American monetary history tells a much different story than one falsely claiming state-issued fiat money undergirded the colonial economy. In fact, much of the historical evidence illustrates Menger’s monetary theory.