Money and Banking

This article will explore the economics of legal tender laws, arguing that they are not only a necessary prerequisite of paper money, but also bene

It is important that Austrians continue in their endeavor to convince colleagues, policymakers, and the public about the instabilities inherent to a fractional-reserve system. 

The objective of this article is to present an extension of Garrison's captial-based macroeconomics" model. Garrison's objective was ― starting from a full employment equilibrium situation 

Casual acquaintance with Ayn Rand’s ideas often involves the assumption that Rand would approve of Oliver Stone’s character Gordon Gekko (of “greed

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 theory of monetary disequilibrium, as espoused by Selgin (1988), White (1989), Horwitz (2000), and others, has been used to justify the issuance of fiduciary media under a system of fractional reserve “free” banking. 

Austrian economist Lawrence White, formerly of the University of Georgia, has given us in The Theory of Monetary Institutions, a book written in mainstream mode yet embellished with Austrian insights. 

Recent events in the US — high unemployment, record federal deficits, and unprecedented financial distress — have raised serious doubts about the future of the dollar.

Volume 11, Number 1 (Winter/Spring 1990)

Professor Karl Socher of the University of Innsbruck, Austria discusses Austrian Economics in

No matter what reform proposal is adopted, the state will attempt to strike back against it to restore to itself the immense benefits it receives from the existing system.