Monetary Theory

China has experienced one of the great economic transformations in the history of the world, writes Frank Shostak. But will it last?

Argentina's economy is poised to suffer the same fate as Icarus who flew too close to the sun and tumbled from the sky, writes Grant Nulle.

Deflation was the great threat that never materialized, writes Gardner Goldsmith. The dollar still sinks in value.

Proposals for monetary reform are ubiquitous, but Murray N. Rothbard argued for the 100% gold coin standard.

Christopher Mayer explains why an Austrian analysis starts by examining the preceding boom phase of the business cycle.

Greenspan says the banks are in great shape. Frank Shostak, however, notes signs of deterioration.

Industry concentration is not usually a problem in the free market, writes Christopher Mayer. But the banking industry is hardly free.

Grant Nülle tells the story of a nation ruined by debt, fiscal profligacy, and paper money—with the IMF and the US as the enabler.

Robert Murphy recommends Sowell's latest book, though with reservations.

The current American current account deficit, writes Stefan Karlsson,reflects dangerous policy trends.