Arthur Marget in the Austrian Tradition of the Theory of Money
From The Review of Austrian Economics Vol. 8, No. 2, 1995.
From The Review of Austrian Economics Vol. 8, No. 2, 1995.
In re-evaluating the main elements of Mises's monetary theory, one thing especially stands out. Mises took great pains to establish his theory of money on the bedrock of value and price theory.
Banks under a free-banking system, like banks with fractional reserves under any other system, are susceptible to runs. Free-banking theorists maintain that the option clause would be one effective means of dealing with runs on banks.
Richard H. Timberlake A Critique of Monetarist and Austrian Doctrines on the Utility and Value of Money Acrobat 3.0 Import Plug-in
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Greenspan speaks of a condundrum whereby long-term yields on government bonds are surprisingly low. Why anyone would invest in them is a legitimate question, writes Stefan Karlsson.