While it is true that private banks initiate the money-creation process, it is central banks that make the the whole process possible.
Boettke, Rizzo, Klein, and Sautet on Kirzner
I am participating in a Liberty Matters dialog on Israel Kirzner's contributions to economics. The lead essay is by Peter Boettke, followed by responses by Mario Rizzo, Frederic Sautet, and myself.
I am participating in a Liberty Matters dialog on Israel Kirzner's contributions to economics. The lead essay is by Peter Boettke, followed by responses by Mario Rizzo, Frederic Sautet, and myself.
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.