Money and Banking

Alex Pollock shows Hayek’s case for currency competition over central-bank monopoly—why real monetary freedom means letting monies compete.

The following is an article originally published on October 20th, 2025, at Ludwig von Mises Institut Deutschland. Its publication sparked a public debate on the topic between Dr. Bagus and Dr. Jörg Guido Hülsmann. 

As the Federal Reserve has delayed lowering the federal funds rate, the money supply has stabilized in recent months. This trend also reflects rising delinquencies, falling home sales, and stagnating employment.

Joseph Salerno reviews Banking and Monetary Policy from the Perspective of Austrian Economics. Covering topics ranging from inflation targeting to cryptocurrency, this collection is indispensable reading for anyone interested in the Austrian monetary thought.

David Howden reveals how banking, especially fractional reserves and central bank manipulations, creates instability and inflation.

Dr. Sandy Klein walks through the origins and essential functions of money, showing how barter’s pitfalls led to the spontaneous emergence of money as a medium of exchange.

Governments have so corrupted money that we forget that sound money, by providing both fungibility and privacy, has been a defense against overreaching governments. While sound money is in the interests of citizens, governments have managed to destroy it.

Governments have so corrupted money that we forget that sound money, by providing both fungibility and privacy, has been a defense against overreaching governments. While sound money is in the interests of citizens, governments have managed to destroy it.

As US debt soars and foreign central banks stockpile gold, members of Congress introduce a bill to require a comprehensive audit of America’s gold reserves.

As US debt soars and foreign central banks stockpile gold, members of Congress introduce a bill to require a comprehensive audit of America’s gold reserves.