Money and Banking

Fifteen years ago, Murray N. Rothbard wrote a piece on the most prevalent economic errors of that time. What are the great economic errors alive today?

The Prime Minister's statist, inflationist program isn't saving the country; it is preparing the way for yet another crash. 

As regular banks decline in financial importance, some economists have wrongly said that non-banks have become engines of inflationary credit.

Does Alan Greenspan have a theory or is he just winging it? (Commentary by James Grant) 

Central bankers mistake the cause for the cure. (Essay by Jeffrey Herbener)

It's traduced in normal times and blamed for every economic crisis, but speculation has an important role to play in the market economy. (Article by Christopher Mayer)  

Robert Mundell's economics, both praised and criticized from an Austrian perspective. (Comments from scholars)

So long as the Fed has the power to print, the boom-bust cycle is here to stay. (Paper by Frank Shostak)

Keynesian economics continues to infect much public debate, despite being debunked for decades by Austrian economists, some mainstream economists, and reality itself.

Civilization is subverted by inflation. Readers old enough to remember 13 percent inflation remember how it turned life upside down. Savers were considered to be suckers while financial profligacy was considered wise. Plans of a lifetime were gutted, employees were always angry, and businessmen found even the simplest accounting tasks to be maddeningly confusing. And yet 13 percent is hardly high by this century's egregious standards.