While physical-world knowledge sets the boundaries of what can be produced, catallactic-world knowledge from markets guides what should be produced and how. This typology is applied to the market process.

Jeffrey Herbener reviews a new contribution to capital theory, in which Hanke makes good on a long-standing agreement with Yeager to co-author a book on capital, interest, and waiting.

Kristoffer Mousten Hansen and Jonathan Newman reply to defend their argument that an increase in the production of commodity money can be socially beneficial.

How do Austrian ideas inform management and entrepreneurship research? David Rapp reviews the new Research Handbook on Austrian Economics in Management and Entrepreneurship, edited by Vishal Gupta and Per Bylund.

Five historical episodes show that shifts away from and back to hard-money systems have had measurable effects on inflation, business cycles, and financial crises.