Money and Banking

Recorded at Mises University 2005.

Recorded at Mises University 2005.

Recorded at Mises University 2005.

Recorded at Mises University 2005.

Can there be such thing as too much saving? Frank Shostak says this is like asking if can we have too much real wealth. 

The Austrians view is that monopoly came about as privilege, usually granted by royalty, given to a particular person or industry. This process is arbitrary and capricious. Free entry is required in capitalism. There cannot be restrictions on entry, as with doctors.

Price, quantity, profit, and deadweight loss are four criticisms of monopolies.

Annals of the American Academy of Political and Social Science, Volume 17 (1901) 

Unknown PrecisionScan Adobe Acrobat 6.0 Paper Capture Plug-in

From The Review of Austrian Economics 1988.

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