Money and Banking

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. 

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. 

Bankruptcy law is a system of interventionary legislation which interferes with the ability of individuals freely to establish the terms of loan co

In “Government Regulation and Intergenerational Justice,” Rolf Sartorius argues that some government regulation is justified in order t

Volume 11, Number 1 (Winter/Spring 1990)

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

Volume 23, Number 1 (Spring 2003)