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I am no scholar, I am Joe six pack, though I don’t drink. I have learned much from the Mises.org web site. Yet at this time of great crisis I feel as though most Austrians have been content to sit out of the current fight. With the exceptions of Ron Paul, Tom Woods and Peter Schiff where are the...
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I am looking for a good, compact, definition of inflation. Ignoring the mainstream 'increase in general level of prices' with all its weaknesses, I came upon three definitions in the Austrian tradition that seemed suitable: - a general increase in money supply (Shostak) - very clear, but any...
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[quote user="GilesStratton"] Mises said that an important aspect of economic calculation is a sound currency, what this means is that entrepreneurs need to be able to correctly account for their profits and losses. If inflation is high it is also less stable and predictable, this means that...
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Ya'll, So I was thinking about inflation recently, and I don't think I really understand how it happens. I've tried to think about how I would explain it to somebody who had zero experience with economic thought. Background : At any given moment in time, an institution (the Fed?) increases...
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I was having a look at "What Has Government Done to Our Money" by Rothbard, and got thinking about the problem of hoarding, or increasing one's cash balances. This may be relevant in the current economic climate if people are losing faith in the banking system and yet trying to rebuild...
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Greetings. A new audiobook is available in The Rational Argumentator’s Audio Section : “What Has the Government Done to Our Money?” by Murray N. Rothbard; Read by G. Stolyarov II I hope that you will enjoy it.
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In the midst of our economic slowdown, the U.S. Treasury Dept has issued what they are calling the "Blueprint for Financial Regulatory Reform". The highlights, as given by an article on Yahoo!'s website , are as follows: --designate the Fed as the primary regulator for market stability...
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I will concede that P does not necessarily increase if V does, but that P tends to rise all other things being equal, due to demand rising. This must be the case. If demand rises, P must tend to rise also. Other factors may negate the actual rise in P, but none the less, the tendancy is there. [quote...