Money and Banking
Good Question Marty
In his new NBER working paper Martin Feldstein writes that “Reducing the large current account deficit will require both a higher rate of nat
Rental Cars and Sports Stadiums
What do rental cars and sports stadiums have in common? Everything, if you live in Kansas City, Mo.
Are Stock Markets a Swindle?
Aside from the error identified by Shostak this morning, another error concerning financial markets is th
3. Theory of Money and Credit
This 1912 book is Mises’ first great theory. Mises agreed with Menger about the spontaneous emergence of money. No government is needed. Mises used a logical proof called the regression theory. It explained why money is demanded in its own right.
The Principle of Sound Money
Mises knew why abandoning the principle of sound money would be so problematic: "In the opinion of the public, more inflation and more credit expansion are the only remedy against the evils which inflation and credit expansion have brought about."