Money and Banking

Sumner was the product of an indigenous American hard-money tradition that embraced free markets, free trade, and sound banking

This paper discusses Ludwig von Mises's proposals for monetary reform. We will largely focus on technical aspects--the concrete practical steps he recommended

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. 

An excellent summary of the recent mainstream debates on the role of a central bank and the conduct of monetary policy and provides a framework for monetary policy that ignores all the lessons

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. 

In an age when deflation is widely feared and the threat of deflation serves as a justification for radical policy proposals, Bordo and Redish have done a great service in showing that deflation is not harmful to the economy, 

The book Deflation: Current and Historical Perspectives, dedicated to the history and economics of the phenomenon of falling prices, is composed of 11 contributions by 20 economists 

We explore several unaddressed issues in George Selgin’s (1988) claim that the best monetary system to maintain monetary equilibrium is a fractional reserve free banking one. 

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

The Banking Act of 1933, sometimes referred to as the Glass-Steagall Act, separated commercial and investment banking, instituted Federal deposit insurance,