Tags Booms and BustsMoney and BanksGold Standard
In a 2019 article, Bob quoted Mises who believed that new gold discoveries, in principle, could cause a (small) boom-bust cycle if the gold hit the loan market before other sectors. Walter Block and Bill Barnett have responded in a new article, arguing that in a free market, new commodity money can't cause such distortions.
Robert P. Murphy is a Senior Fellow with the Mises Institute. He is the author of numerous books: Contra Krugman: Smashing the Errors of America's Most Famous Keynesian; Chaos Theory; Lessons for the Young Economist; Choice: Cooperation, Enterprise, and Human Action; The Politically Incorrect Guide to Capitalism; Understanding Bitcoin (with Silas Barta), among others. He is also host of The Bob Murphy Show.
Walter Block is the Harold E. Wirth Eminent Scholar Endowed Chair in Economics at Loyola University, senior fellow of the Mises Institute, and regular columnist for LewRockwell.com.
Click here to see an extensive online compendium of Dr. Block's publications.
Click here for a complete list of Dr. Block's books.