Jeff Deist and Philip Bagus discuss not only the history and possible future of the Euro, but also the ECB under Draghi; the nationalist sentiments sweeping some European nations that want their own currency back; how the ECB has effectively monetized the sovereign debt of the PIIGS; and how Germans may well be nostalgic for the
According to many economists we need the state to provide public goods. The assertion seems to be so crystal-clear that it is not even worth discussion in the mainstream. Volume 20, Number 4 (2006) Bagus, Philipp. “Wresting Land from the Sea: An Argument Against Public Goods Theory.” Journal of Libertarian Studies 20, No. 4 (2006):
Volume 16, No.1 (Spring 2013) The Austrian School of economics has provided the world with devastating critics of Keynes’s magnum opus The General Theory of Employment, Interest and Money ( TGT ) for a long time. Friedrich A. von Hayek, Jacques Rueff, Henry Hazlitt, Murray Rothbard, Ludwig Lachmann, Ludwig von Mises, and William Hutt have already
Volume 12, Number 4 (2009) Much has been written about the quantity of money and its effects on money’s purchasing power. However, changes in the quality of money have been widely neglected. This paper analyzes changes in the quality of money and its influence on the purchasing power of money. Bagus, Philipp. “The Quality of Money.” The
Volume 13, No. 3 (Fall 2010) Recognizing different types of savings allows for a more fruitful analysis of the business cycle. Sustainable investment activities must be financed by an equivalent amount of savings, both in length of availability and quantity. Upward-sloping yield curves are a feature of the unhampered loanable funds market.
Volume 13, Number 4 (Winter 2010) We explore several unaddressed issues in George Selgin’s (1988) claim that the best monetary system to maintain monetary equilibrium is a fractional reserve free banking one. The claim that adverse clearing balances would limit credit expansion in a fractional reserve free banking system is more troublesome
Volume 12, No. 1 (2009) It is with great trepidation and anticipation that we review Robert Shiller’s new book, The Subprime Solution . Trepidation as to the causes of the problem, which were expected to take a behavioral spin. Anticipation that, with gushing reviews from Austrian friendly writers such as Nassim Taleb , there would be a
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.