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.
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.
