Monetary Theory

Money proper is not artifice. It is a physical "thing" of value, acquired through labor and emerging out of the needs of individuals, who through voluntary exchanges determine its value.

Money proper is not artifice. It is a physical "thing" of value, acquired through labor and emerging out of the needs of individuals, who through voluntary exchanges determine its value.

Keynesians and fellow travelers hold the Phillips curve to be sacrosanct. But because the Phillips curve cannot establish causality, it is useless as economic theory.

Resources are scarce even when money is not.

Resources are scarce even when money is not.

At the heart of Keynesian business cycle theory is the so-called liquidity trap. Contra Keynes, however, economies don't falter because a sudden increase in the demand for money.

Ludwig von Mises’s contributions to the development of the technical methods and apparatus of monetary theory continue to be neglected today,

At the heart of Keynesian business cycle theory is the so-called liquidity trap. Contra Keynes, however, economies don't falter because a sudden increase in the demand for money.

The Communist Manifesto pushed a heavily progressive income tax as one of ten key ways to undermine the market order. Unfortunately, the idea didn't die with Marx. 

Monetary authorities have come up with numerous clever ways of measuring money. However, they are unable even to define money, much less measure it.