The First Bank of the United States induced credit expansion, inflation, speculative overinvestment, external specie drain, and finally, a recession in 1797, all consistent with Austrian business cycle theory.
- Articles
- ArticlesDid Mises propose complete freedom in banking? As a currency school free banker, Mises's free banking theory presages the split in the modern free banking literature.
- ArticlesUnder certain conditions, supply or demand shocks in a free market economy with a metallic standard leave prices stable, with the exception of when the currency is debased.
- ArticlesAlex Pollock's Henry Hazlitt Memorial Lecture, given at the 2022 Austrian Economics Research Conference, surveys the Fed's foray into mortgage markets. As Hazlitt said, "the ardor for inflation never dies."
- Book ReviewsAudrey Kline reviews Stephen P. Halbrook's The Right to Bear Arms, tracing gun rights from medieval times to the present day.
- Book ReviewsPatrick Newman's new book shows that American politics from 1607 to 1849 is a history of cronyism, starting with colonial feudalism to the expansion of executive power under Jackson.
- Book ReviewsSaifedean Ammous’ instructive analysis of fiat currency exposes the vast range of problems that bad money entails, though it may overstate the role of fiat money in causing social problems.
- Book ReviewsJohn E. King's The Alternative Austrian Economics: A Brief History re-introduces the political economists of Austro-Marxism, such as Otto Bauer and Rudolf Hilferding to English-speaking audiences.