Monetary Theory

Austrian economists are not fooled, because they reject the idea of empirical data in the validation of theory in the social sciences.

"Such aggregates have little meaning, as all human action consists of striving for individual goals."

The usually sensible Larry White recently blogged a silly and petty comment on Hans Hoppe's Mises Daily Article "The Yield from Money Held' Reconsidered".

In holding money, its owner gains in the satisfaction of being able to meet instantly, as they unpredictably arise, the widest range of future contingencies.

If anything, all the rescue packages and all the massive pumping by the Fed has made things much worse as far as the underlying economic bottom line is concerned.

John Maynard Keynes often employed flowery language like “animal spirits” and “liquidity trap” to describe things he did no

A drastic turn to responsible economics is the only legitimate way to escape the deep rut Ireland finds itself in.

Seeking to provide the intelligent layman with sufficient knowledge of sound economic theory to enable him to understand what must be done to overcome the present financial crisis and return to the path of economic progress and prosperity.

The Oracle admits that the printing of paper money is inflationary, but being a consistent proponent of expanding government, he constantly dismisses gold and proposals to return America to a gold standard.

Government-controlled fiat money is fraudulent money.