Complete with an extensive new preface, the republication of Larry Sechrest’s Free Banking is well-timed. The new preface is an important contribution to the ongoing debate within Austrian circles
This paper provides an empirical investigation of the role of monetary policy in the determination of interest rates and consumption as developed by capital-based macroeconomics
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 State applies itself to loading everybody’s brain with prejudices, and everybody’s heart with sentiments favorable to the spirit of anarchy, war, and hatred;
Comparative analysis, however, could reveal some broader principles by which reform proposals may be evaluated. This exercise might prove to be more valuable than arguments over which theoretical perspective
In a free market economy from which fiduciary media are excluded, economic progress will be limited, perhaps severely, by the high cost and correspondingly limited supply of small-denomination money
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
This article presents two alternative interpretations of the role of banks in the monetary transmission process. The interpretation based on the work of Mises, Hayek, and Rothbard leads to the conclusion that central banking and monetary policy are "generators of the business cycle." The other interpretation presents a Keynesian theory minus the liquidity preference theory of the rate of interest.
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 false-money debate of 1866 in the Journal des Economistes was the first time that uncompromising laissez-fair advocates clashed on the question of fiduciary media.
