Meet Bálint Táborszki, he is bringing the literature of the Austrian economists to Hungary:

“Up until 1991, while the eyes of the Soviet empire were upon us, it was unthinkable and impossible to make the most basic free market literature available for the public here in Hungary. And it is still the case today that the works of Mises, of Rothbard, of the great Austrian thinkers are absolutely unavailable in Hungary — literally nothing, not even a single article by these writers is available in our language, and very few people speak English.”

There’s a lot of talk these days about the so-called “neutral” (or “natural” or “terminal”) interest rate projections of the Federal Reserve. In fact, their projection of this number is a key argument in their ongoing decision to keep rates at historically very-low levels for what has been an extended period of time. (Specifically, Federal Reserve officials have argued that the neutral interest rate has sharply declined in recent years, meaning that apparently ultra-low interest rates do not really signify easy monetary policy.)

In his various writings, Murray Rothbard argued that in a free market economy that operates on a gold standard the creation of credit that is not fully backed up by gold (fractional-reserve banking) sets in motion the menace of the boom-bust cycle. In his The Case for 100 Percent Gold Dollar Rothbard wrote,