Ep. 181 Could Gold Discoveries Cause the Austrian Boom-Bust Cycle?
In a 2019 article, Bob quoted Mises who believed that new gold discoveries, in principle, could cause a (small) boom-bust cycle if the gold hit the loan market before other sectors. Walter Block and Bill Barnett have responded in a new article, arguing that in a free market, new commodity money can’t cause such distortions. Mentioned…
Ep. 149 George Selgin Critiques MMT and Debates Murphy on Free Banking
Monetary economist George Selgin agrees with Bob on the flaws with MMT, but then the two continue their debate (started at the Soho Forum) on fractional reserve free banking. The episode also includes George’s background and thoughts on Bitcoin. Mentioned in the Episode and Other Links of Interest: The YouTube version of this interview. George’s monograph…
Ep. 63 Nicolas Cachanosky on Improving Austrian Business Cycle Theory, the Dispute Over Fractional Reserve Banking, and How the Fed Broke Monetary Policy
Economist Nicolas Cachanosky specializes in the overlap between capital theory in traditional economics and the capitalization of cash flows in finance. He explains the relevance of these concepts to understanding the business cycle. Then Nicolas and Bob have a friendly disagreement over Mises’ views on fractional reserve banking. The conversation closes with Nicolas’ view on…
Ep. 48 Bob Explains the Highlights of His New QJAE Article on Fractional Reserve Banking
Bob goes solo to explain some of the most important points in his new QJAE article on the fractional reserve banking debate. Bob shows why Mises thought *any* issuance of fiduciary media caused the boom-bust cycle, and he points out a major flaw in George Selgin’s defense of fractional reserve banking. Mentioned in the Episode…