The Austrian Economics Center blog has a post by Finbar Feehan-Fitzgerald on “Hayek versus Friedman: Concurrent Currencies.” (The center is located in Vienna, hence it is Austrian by geography as well as by school of thought. I came to the post via a link from Jonathan Finegold’s blog, Economic Thought.)  As Feehan-Fitzgerald summarizes…

To be specific, he confuses me by his response to Ezra Klein’s column quoting former FRB vice chairman Donald Kohn’s opinion that “It’s difficult, if not impossible, to create persistent inflation without demand exceeding potential supply over an extended period” along with Lawrence Summers’ view that “inflation is mostly driven…