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Understanding Monetary Chaos

Tags Big GovernmentThe FedLegal SystemThe Police StateU.S. Economy

04/01/2014Mises Institute

The purpose of this course is to illustrate how Austrian monetary economics is used to analyze historical and current events and policies. The course will also cover controversies between Austrian and mainstream monetary theorists in interpreting the causes, consequences, and remedies for important episodes of monetary disorder. Topics will include:

  • Rothbard Versus Friedman: Were the 1920s Inflationary? Were the 1930s Deflationary?
  • Deflation: Good or Bad?
  • The War on Cash
  • Who or What Caused the Financial Crisis and Great Recession?
  • Beware of False Gold Standards: From Bretton Woods to the Dollar Bill Standard
  • World Currency Wars: Who Will Win and Who Will Lose?


Lectures will be Tuesdays at 5:30 p.m. Eastern time.  They will be recorded and made available for enrolled students to download.


All readings will be free and online. A fully hyper-linked syllabus with readings for each weekly topic will be available for all students.

Grades and Certificates

The final grade will depend on quizzes. Taking the course for a grade is optional. This course is worth 3 credits in Mises Academy. Feel free to ask your school to accept Mises Academy credits. You will receive a digital Certificate of Completion for this course if you take it for a grade, and a Certificate of Participation if you take it on a paid-audit basis.

Refund Policy

If you drop the course during its first week (7 calendar days), you will receive a half refund. No refunds will be granted following the first week.


Mises Institute

The Mises Institute works to advance the Austrian school of economics and the Misesian tradition, and defends the market economy, private property, sound money, and peaceful international relations, while opposing state intervention.


Salerno, Joseph T. "Understanding Monetary Chaos." Mises Academy, April 15, 2014.

Cite This Article

Salerno, Joseph T. "Understanding Monetary Chaos." Mises Academy, April 15, 2014.