In Defense of Fiduciary Media—or, We are Not Devo(lutionists), We are Misesians!

Tags: Money and Banking, Money and Banks

07/20/2005 Review of Austrian Economics George A. Selgin Lawrence H. White

Downloads

rae9_2_5_4.pdf

From The Review of Austrian Economics Vol. 9, No. 2 1996.

Subscribe to Review of Austrian Economics

Latest Articles

Trump’s Inflationist Monetary Policy Favors Wall Street over Main Street

04/24/2025 Mises Wire Ryan McMaken

The Trump administration has tried to cultivate a reputation for preferring “Main Street over Wall Street.” Unfortunately, this image is belied by the administration’s push for artificially low...

No, Powell Is Not “Keeping Interest Rates High”

04/24/2025 Power & Market Ryan McMaken

There really is no reasoning with Trump fanboys when it comes to the reality of his policies. They will spin anything and everything to portray Trump‘s blatant anti-freedom and anti-market policies as...

The Deserving End to the Post-War Order

04/24/2025 Mises Wire John Kennedy

After the tongue lashing President Zelensky received in the Oval Office by President Trump and JD Vance, European and American establishment leaders were infuriated to say the least. But the most...

Whatever Happened to the Green New Deal?

04/24/2025 Mises Wire William L. Anderson

Fresh off her 2018 upset New York Democratic congressional primary win, Alexandria Ocasio-Cortez (better known as AOC) and Massachusetts Sen. Edward Markey announced they were launching an ambitious...

Shower Heads Likely Going to Supreme Court

04/23/2025 Power & Market Douglas French

The first article in Jeffrey Tucker’s Bourbon for Breakfast is “The Bureaucrat in Your Shower” from 2006. Although I worked side-by-side with Jeffrey at the Mises Institute, I had no idea American...

Meet the Writer

George A. Selgin

George Selgin is a Senior Fellow and director of the Center for Monetary and Financial Alternatives at the Cato...

George Selgin Critiques MMT and Debates Murphy on Free Banking

09/28/2020 Robert P. Murphy George A. Selgin

Monetary economist George Selgin agrees with Bob on the flaws with MMT, but then the two continue their debate (started at the Soho Forum) on fractional reserve free banking.

100 Percent Reserve Money: The Small Change Challenge

07/30/2014 Quarterly Journal of Austrian Economics George A. Selgin

Volume 12, No. 1 (2009) In a free market economy from which fiduciary media are excluded, economic progress will be limited, perhaps severely, by the high cost and correspondingly limited supply of...

What is the Mises Institute?

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.

Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.

Become a Member