Money and Banking

No matter what reform proposal is adopted, the state will attempt to strike back against it to restore to itself the immense benefits it receives from the existing system. 

This article has a twofold purpose. Its first goal is to pay tribute to Friedrich von Hayek as an outstanding monetary theorist. Its second objective is to further elaborate, on the ground of Hayek’s main findings,

Volume 23, Number 1 (Spring 2003)

The authors argue that a currency board is a creation of the state, aiming at granting particular political favors,and purposefully designed to secure the reappearance of an independent domestic money producer.

In this paper the theory of optimum currency areas (OCA) is presented, and then I will attempt to prove:

1. The OCA theory is nonoperational and irrelevant in dealing with the present international monetary situation.
2. The basic postulates of OCA theory are internally inconsistent and incompatible with economic theory.

Recorded at the Mises Institute in Auburn, Alabama, on 26 July 2014.

Recorded at the Mises Institute in Auburn, Alabama, on 22 July 2014.

Recorded at the Mises Institute in Auburn, Alabama, on 21 July 2014.

Germany has now decided that its gold is safe in the hands of the Federal Reserve after all.

ECB’s Mario Draghi has taken over from Ben Bernanke as the world’s most enthusiastic money printer, writes Brendan Brown.