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
Greenspan speaks of a condundrum whereby long-term yields on government bonds are surprisingly low. Why anyone would invest in them is a legitimate question, writes Stefan Karlsson.
Modern monetary systems operate on the ability to turn debt into money.
Eugen von Böhm-Bawerk expressed concern that the interest rate might not get rid of its "moral shade"—its moralischer Schatten. Thorsten Polleit chronicles the attempts to drive it to zero.
