Decisively refuted by the facts of economic life, Marxism has been forced to retreat to the one place in the academy where empirical reality seems to carry no weight in an argument: the humanities departments.
Yuri Kuznetsov suggests a scenario by which fiat money comes about, a scenario which may be useful for understanding some events in recent Russian history.
From The Review of Austrian Economics Vol. 8, No. 2, 1995.
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In re-evaluating the main elements of Mises's monetary theory, one thing especially stands out. Mises took great pains to establish his theory of money on the bedrock of value and price theory.
This is reprinted with permission from The Freeman September and October 1995.
This is an essay which takes as its jumping off point the free enterprise system.
From The Review of Austrian Economics Vol. 7, No. 2, 1994.
This paper examines what Austrian economists think about deflation and offers a critique of their views. This seems to be of particular importance because Austrians differ in their opinions about deflation,
