[A new article by Mises Senior Fellow Alex Pollock and Paul Kupiec at the Wall Street Journal]:

Abstract: Austrian economists have debated issues of monetary theory and inflation extensively, but there is still no agreement on the definition of inflation. Mises (1953, 240) defined inflation as an increase in the supply of money not offset by an increase in the demand for money, leading to a fall in the purchasing power of money (PPM). Rothbard (2009, 990) defined it as an increase of fiduciary media, explicitly excluding increases in the stock of specie.

ABSTRACT: Property and Justice presents a new theory of original acquisition out of which two applications are drawn: a defense of the commons and a defense of the right of necessity. Author Billy Christmas attempts to robustly link freedom to property and mostly succeeds. However, the work contains two serious flaws. First, his right of necessity allows some individuals to partly own others.