Six Myths About Money and Inflation
Politicians and the mainstream media have faith in the central banks to manipulate and manage the global economy.
Money and Banking
Displaying 1081 - 1090 of 2011
The Federal Reserve and the Financial Crisis, by Ben S. Bernanke
There is trouble lurking in each of the book’s four chapters. The text gets off on a wrong foot as Bernanke overviews the origins and purposes of the Fed.
The Savings and Loan Debacle Twenty-Five Years Later: A Misesian Re-Examination and Final Closing of the Book
August 9, 2014 marks the twenty-fifth anniversary of the signing into law of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989 by U.S. President George Herbert Walker Bush. FIRREA was enacted to clean up the savings and loan (S&L) financial debacle of the 1980s. In articles, books, symposia, and papers written in the wake of the debacle, popular media and mainstream financial economists each provided explanations of the debacle. This paper analyzes and rejects these explanations in favor of an alternative based on Ludwig von Mises’s observation that market interventions create unintended consequences that usually lead to more interventions that in turn create new waves of unintended and worsening consequences until no more interventions are possible.
Confusing Capitalism with Fractional Reserve Banking
Low interest rates combined with high-risk fractional reserve banking creates a powder keg on which we’re sitting today, writes Frank Hollenbeck.
Mercantilism Never Went Away
The debate over the Export-Import Bank continues, with the bank’s friends in Congress and other high places claiming that the Bank serves an
A Simple Model of the Theory of Money Prices
Ludwig von Mises (1981; 1998) is generally and properly credited by contemporary Austrians with having reintegrated monetary theory with general economic theory from which it had been severed by the neoclassical quantity theory.
From Monetary Nationalism to Monetary Imperialism: Fractional Reserve Banking and Inter-Government Cooperation
This article has a twofold purpose. Its first goal is to pay tribute to Friedrich von Hayek as an outstanding monetary theorist. Its second objective is to further elaborate, on the ground of Hayek’s main findings,
A Critical Note on Fractional-Reserve Free Banking
The practice of fractional-reserve banking is the main factor responsible for the emergence and development of the central bank.
Free Banking and Credit Creation: Implications for Business Cycle Theory
Free banking is a process where the market makes the ultimate judgment on where to draw the line between money as a present good and money as a future good.
An Austrian Taxonomy of Deflation—With Applications to the U.S.
Whether the current recovery will strengthen, which appears to be the prevailing consensus, or whether unforeseen events in the financial arena abort it prematurely,
