Monetary Theory

My need to comment on Dr. Howden’s review has to do with the fact that he misrepresents my position on a point that is central in my book.

David Rapp was the first to analyze the German Banking Restructuring Act from a business economics perspective, based upon Austrian insights.

Monetary and financial stabilization policies turned out to be de-stabilizing.

Government could never cement its power over a nation's currency, if the people could repudiate the fiat paper and turn to gold for its money.

From April 6, 1959: As inflation increases, apologists emerge to suggest that, after all, inflation may be a very good thing—or, if an evil, at least a necessary evil.

Economists err if they believe something is wrong when money is not in constant, active "circulation."

Ships aren’t cheap to purchase. But when financing is abnormally cheap and expectations of future business are rosy, it stands to reason that shipping companies would put in a raft of orders.

Leonidas Zelmanovitz discusses his recent book, The Ontology and Function of Money: The Philosophical Fundamentals of Monetary Institutions.

On the eve of World War II, Keynes delivered a chilling address on the BBC, talking about the "great experiment" of curing unemployment through war expenditure.

The reader should trudge his way through this book for two reasons. First is the explanation for why the purchasing power of money must be defined in terms of consumers’ goods prices, not capital goods. Second, and more importantly, Braun resurrects the subsistence fund doctrine, an integral aspect of business cycle theory and completely neglected by modern writers.