Money in an economy without banks

by Alex Schaefer   Most of the world’s money is currently in the form of deposits created by banks. After the 2008 credit crisis, which instilled a strong suspicion of…

On currency

David Birch recently grumbled about people’s sloppy use of the term legal tender, and I agree with him. As Birch points out, what many of us don’t realize is that…

Bill of exchange for £30 for tobacco sales, on April 26th 1769 Here’s some interesting news. Ripple is finally being implemented. What is Ripple? Ripple is an open source P2P…

Lord Keynes continues to squabble with the Austrians on the origins of money in two separate posts, one on Adam Smith and the other on Mises’s regression theorem. The combativeness…