Last week's debate has naturally generated some response from defenders of Keynes who have found fault with my and Jamie Whyte's characterization of Keynes's views, or who have simply found fault with our…personalities! Over at Tax Research UK, for instance, Richard Murphy and some of his friends…
The goal of monetary policy is monetary equilibrium. This is true for any monetary arrangement that claims to serve a general interest among the population rather than to simply divert wealth to the ruler and his cronies. Monetary equilibrium is a situation where the supply of money…
What follows is the slightly revised first part of remarks I gave at the Estoril Political Forum, in Estoril, Portugal, on 28 June 2011. Of course the euro is flawed. It is not, after all, a monetary standard evolved by the invisible hand of the marketplace from…
Back in December, I used one of my weekly Freeman Online columns to address what I saw as a common misunderstanding of how fractional reserve banking works, at least among many who comment on various Internet sites devoted to Austrian economics, especially ones critical of fractional reserve…
I am, generally, a big fan of Robert Higgs, but I have some quibbles with this analysis (though this analysis is common among other people I like). Higgs outlines his arguments in a blog post here. His main argument is that Since late December 2008, the bank…