Mises’ monetary theory compared to other theories
Lots of people talk about “The” Quantity Theory of Money and “The” Equation-of-Exchange. The terms have a familiar feel to them, they’re part of…
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Science fiction got there before Krugman
Recently, Paul Krugman claimed that the threat of an invasion by space aliens could bring the US economy out of recession in eighteen months….
Read MoreThe (quantity) theory of money and credit
The Quantity Theory of Money seems straightforward, but a little thought about it brings up many questions. Different economists have taken different approaches to…
Read MoreWhy doesn’t Free Banking work now?
The most basic theory of (fractional-reserve) free banking concerns the supply of money and demand for money. At some times the public on net…
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The Streets of Vienna
A street in Vienna is called a gasse, strasse or platz. There are a few of them named after people who aren’t so popular…
Read MoreThe consequences of the impending national bankruptcies
I’m currently in Vienna. I’ve spent a lot of time here enjoying cups of coffee in peaceful cafes, and I think I understand the…
Read MoreWas Keynes’ Economics Utopian?
At any given time, a few Keynesian economists and Austrian economists can always be found arguing on the internet. Recently, Don Boudreaux of Cafe…
Read MoreCorruption, Taxation and Enjoying Some Free Time
One of the most important questions about politics we must ask ourselves is: How should we live in a state we don’t approve of?…
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Money is barren but occasionally covers us in dust
As I expect many readers of this site will know, a debate has begun between the Austrian Economist Robert Murphy and the “Quasi-Monetarists” Scott…
Read MoreLearning the Wrong Lessons from Ireland
As the bailout of Ireland begins in earnest, many in the media are asking “What went wrong?”, and coming to some dubious answers. The…
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