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Home | Mises Library | Austrian Definitions of the Supply of Money

Austrian Definitions of the Supply of Money


Tags Monetary TheoryMoney and Banking

07/20/2005Murray N. Rothbard

The concept of the supply of money plays a vitally important role, in differing ways, in both the Austrian and the Chicago schools of economics. Yet, neither school has defined the concept in a full or satisfactory manner; as a result, we are never sure to which of the numerous alternative definitions of the money supply either school is referring.


New Directions in Austrian Economics, edited and with introduction by Louis M. Spadaro. Kansas City: Sheed Andrews and McMeel (1978), pp. 143–56. Also published in The Logic of Action, Vol. I.

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