Money and Banks

The chief objective of present-day government interference is to intensify further credit expansion. This policy is doomed to failure. Sooner or later it must result in a catastrophe.

Those Americans who twice succeeded in doing away with a central bank were aware of the dangers; but they failed to see that the evils they fought

Carl Menger, from his classic treatise, on the origins of the means of payment.

This audio Mises Daily is narrated by Floy Lilley.

Thus, Mankiw's solution for dealing with unprecedented excess reserves is for the Fed to create even more reserves in order to pay bankers not to make new loans. Does that sound like a good long-term plan for the economy?

A money-substitute can be embodied either in a banknote or in a demand deposit with a bank subject to check (”checkbook money” or depos

In reality, money is as easily supplied by the free market as any other good.

Politicians, bureaucrats, regulators, modern financial commentators, Nobel Prize–winning economists and central bankers have proven they lack any knowledge of what money is and what causes business cycles.

Ah, the greens. They’re not just treehuggers anymore.

Washington should be lowering taxes and the costs of hiring employees, especially in industries that produce capital and wealth.

Although Aristotle, in the Greek tradition, scorned moneymaking and was scarcely a partisan of laissez-faire, he set forth a trenchant argument in