Money and Banks

Selgin (2009) offers a challenge to 100 percent reserve banking by noting that small change would be unprofitable with 100 percent reserve money.

Austrian business cycle theory has been criticized on the basis of “rational expectations.” That is, reasonably high quality entrepreneurs—which are required for economic growth

The financial elites of this country, notably the Morgan, Rockefeller, and Kuhn, Loeb interests, were responsible for putting through the Federal Reserve System, as a governmentally created and sanctioned cartel

I have re-examined Bastiat’s contributions to economic theory and have found the charges against him to be unsubstantiated. In terms of economic theory, Bastiat is widely knowledgeable

In an age when deflation is widely feared and the threat of deflation serves as a justification for radical policy proposals, Bordo and Redish have done a great service in showing that deflation is not harmful to the economy, 

The book Deflation: Current and Historical Perspectives, dedicated to the history and economics of the phenomenon of falling prices, is composed of 11 contributions by 20 economists 

In The Mystery of Banking, Murray Rothbard explained how the origins of central banking in the US were rooted in a lobbying effort by Robert Morris and other “nationalists” 

What defines a "good society" and how can we use finance to achieve it? Robert Shiller takes the former question as settled, and dedicates his new book Finance and the Good Society

This article presents two alternative interpretations of the role of banks in the monetary transmission process. The interpretation based on the work of Mises, Hayek, and Rothbard leads to the conclusion that central banking and monetary policy are "generators of the business cycle." The other interpretation presents a Keynesian theory minus the liquidity preference theory of the rate of interest.

In the last twenty years, continual financial innovation has led to the increased use of MMMFs as a substitute for checkable deposits.  While many technical considerations suggest that it