“…14 Expanding the money supply in a growing economy to stabilize the price level still creates circulation credit. The l°Rothbard (1994), de Soto (1995), Hoppe (1994), and Ftoppe et al (1998 provide more recent developments of this argument.…”
Section: Credit Creation and Injection Effectsmentioning
confidence: 91%
“…The Austrian model presented here is based on the work of Mises (1971), Rothbard (1994), Hoppe, H~lsmann, and Block (1998), and de Soto (1995 and1998), and Cochran and Call (1998). Money is a present good.…”
Section: Credit Creation and Injection Effectsmentioning
“…14 Expanding the money supply in a growing economy to stabilize the price level still creates circulation credit. The l°Rothbard (1994), de Soto (1995), Hoppe (1994), and Ftoppe et al (1998 provide more recent developments of this argument.…”
Section: Credit Creation and Injection Effectsmentioning
confidence: 91%
“…The Austrian model presented here is based on the work of Mises (1971), Rothbard (1994), Hoppe, H~lsmann, and Block (1998), and de Soto (1995 and1998), and Cochran and Call (1998). Money is a present good.…”
Section: Credit Creation and Injection Effectsmentioning
Counterfeiting is, and should be, a crime. It involves theft by deception, and the stealing of goods or other valuables using false claims to money. But what about counterfeiting money that is already counterfeit? In Block's interpretation, such an action amounts to seizing stolen goods from a thief. Counterfeiting simply relieves the original counterfeiter of his ill gotten gains and is therefore not theft itself. The present article offers a critique of this thesis of Block's on the basis that counterfeiting money involves the theft of property from innocent people.
“…Part 3 will develop an economic interpretation of fractional-reserve banking based on the work of Mises ([1912Mises ([ ] 1971, Rothbard (1994), de Soto (1995, and Hoppe (1994). In this model, a bank deposit is considered a warehouse receipt, a bailment, not a debt.…”
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