Money and Banks

Free banking is a process where the market makes the ultimate judgment on where to draw the line between money as a present good and money as a future good.

The authors argue that a currency board is a creation of the state, aiming at granting particular political favors,and purposefully designed to secure the reappearance of an independent domestic money producer.

Sumner was the product of an indigenous American hard-money tradition that embraced free markets, free trade, and sound banking

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”