Niall Ferguson holds a PhD in philosophy from Oxford, taught history at Harvard and NYU, and wrote perhaps the definitive biography of Henry Kissinger. So, naturally, Bloomberg hired him to write on economics. His most recent column for Bloomberg is a strained mix of the Scot’s views on inflation, tempered slightly by a welcome skepticism toward
Robert Mundell, winner of the Economics Nobel in 1999 , recently passed away at the age of eighty-eight. As many of the obituaries have explained, Mundell is considered the intellectual father of the euro and was associated with the supply-side revolution in economics in the early 1980s. However, in this article I will focus on his earlier,
Jeff Deist: You recently completed a series of articles for the Mises Institute, which we will publish in book form, on how money works today. Why is it important for average people to understand the mechanics of the plumbing of central and commercial banks? Bob Murphy: There’s two main reasons. First, it’s intrinsically interesting. That’s why I
Abstract: This article explains the theoretical importance of the quality of money as a factor of the demand for money and develops the composite indicator that measures the quality of money for the eurozone. The demand for money, i.e., the amount of money people keep in their balances, besides other well-known factors (e.g., interest rate, price
Abstract: This article explains the theoretical importance of the quality of money as a factor of the demand for money and develops the composite indicator that measures the quality of money for the eurozone. The demand for money, i.e., the amount of money people keep in their balances, besides other well-known factors (e.g., interest rate, price
Saturday last, the president of El Salvador, Nayib Bukele, shook the bitcoin world when he announced he would make bitcoin legal tender in his country. The hype after that was unbelievable, as the hodlers went into overdrive. There were some more intelligent takes, as from Caitlin Long on Twitter and Peter St. Onge , but in general the impression
The task at hand is the study of the problems of the determination of prices and interest rates. This task requires a sharp distinction between money-certificates and fiduciary media. Original Article: “ There Is Money and Then There Are Money Substitutes “ This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael
Guido Hülsmann’s The Ethics of Money Production is a masterclass both on the fundamentals of money and the disastrous moral consequences of monetary “policy.” Inflation is not only an economic problem which impoverishes us materially, but a deeply corrosive force in society for individuals. There is no better work to explain the broader
Unlike the ongoing price inflation that is typically caused by central-bank expansion of the money supply, the price inflation generated by diminished supplies of goods is a one-shot affair. Original Article: “ Is There Such a Thing as Good Inflation? “ This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael
Download the slides from this lecture at Mises.org/MU21_PPT_06 . Recorded at the Mises Institute in Auburn, Alabama, on 19 July 2021.
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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.