Money and Banking

From The Review of Austrian Economics 1988.

History of Political Economy, vol. 36, no. 2 (summer) 2004

From the Cato Journal, Vol. 19, No. 2, 1999.

Published in the Cato Journal Vol. 20, No. 3, Winter 2001.

Banks under a free-banking system, like banks with fractional reserves under any other system, are susceptible to runs. Free-banking theorists maintain that the option clause would be one effective means of dealing with runs on banks.

During the past decade a significant change has occurred in the kinds of questions explored by monetary economists. Heretofore, one of the central issues concerned the “rules versus discretion” debate of a central bank empowered monopolistically to supply base money.

From The Review of Austrian Economics Vol. 8, No. 2, 1995.

From The Review of Austrian Economics Vol. 6, No. 1, 1992.

Richard H. Timberlake A Critique of Monetarist and Austrian Doctrines on the Utility and Value of Money Acrobat 3.0 Import Plug-in

Ludwig von Mises’ The Theory of Money and Credit is, quite simply, one of the outstanding contributions to economic thought in the twentieth