Money and Banking

The false-money debate of 1866 in the Journal des Economistes was the first time that uncompromising laissez-fair advocates clashed on the question of fiduciary media. 

In an age when deflation is widely feared and the threat of deflation serves as a justification for radical policy proposals, Bordo and Redish have done a great service in showing that deflation is not harmful to the economy, 

Bankruptcy law is a system of interventionary legislation which interferes with the ability of individuals freely to establish the terms of loan co

That Hayek’s work on money, investment, and business cycle theory should be misunderstood and misrepresented poses nothing new. 

During the late nineteenth century, when silver agitation threatened the gold standard in the United States, gold bonds offered investors some protection from the uncertainties concerning the monetary standard in the United States.

Between 1830 and 1903, Sweden experienced one of the longest and most successful free-banking periods in history. During this period, private note issuing banks were allowed and prospered. 

Almost all contemporary Austrian economists are united in their opposition to central banking and their advocacy of a system of free competitive banking.

Austrian monetary inflation theory claims that changes in the money supply are disproportionately distributed throughout an economy, and as a result wealth inequality is exacerbated. 

The practice of fractional-reserve banking is the main factor responsible for the emergence and development of the central bank. 

Complete with an extensive new preface, the republication of Larry Sechrest’s Free Banking is well-timed. The new preface is an important contribution to the ongoing debate within Austrian circles