tag:blogger.com,1999:blog-8897997766931633186.post3956315987480556648..comments2024-02-14T03:21:37.506-05:00Comments on Monetary Freedom: Was Mises Wrong?Bill Woolseyhttp://www.blogger.com/profile/06330232724290161369noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-8897997766931633186.post-87335023151757817382010-06-06T04:22:06.559-04:002010-06-06T04:22:06.559-04:00This is just Bill press-ganging Mises into his ser...This is just Bill press-ganging Mises into his service.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8897997766931633186.post-80328966161916262262010-06-05T00:44:01.285-04:002010-06-05T00:44:01.285-04:00I find Salerno's approach odd. From a Virginia...<i><br />I find Salerno's approach odd. From a Virginia School perspective, policy rules are nearly always "least bad" options. It could be that the ideal situation would be a banking system that adjusts the quantity of bank money acc</i><br /><br />Indeed. This is precisely what Mises argues. He states that the banks always promise to extend just so much credit as is needed--that this promise has taken several forms such as the real-bills doctrine and that the bankers consistently fail to achieve this end.<br /><br />Salerno is seriously blind. <br /><br />Chapter 8, section 8: "The consequences of an increase in the quantity of money when the demand for money remains unchanged or does not increase to the same extent" ... diminution of the objective exchange value of money.<br /><br />Chapter 19 of Mises's Theory of Money and Credit, Section 2, Sentence One, "Variations in the ratio of the between the stock of money and the demand for money must ultimately exert an influence on the rate of interest also."Jonnoreply@blogger.comtag:blogger.com,1999:blog-8897997766931633186.post-80991345306374860832010-05-16T14:51:33.785-04:002010-05-16T14:51:33.785-04:00Nicolas Cachanosky has written an article on this ...Nicolas Cachanosky has written an article on this topic. It was published at Libertarian Papers.<br /><br />http://libertarianpapers.org/articles/2009/lp-1-43.pdfAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8897997766931633186.post-3207097580337075632010-05-16T02:52:20.594-04:002010-05-16T02:52:20.594-04:00Well put, Bill.Well put, Bill.Lawrence H. Whitehttp://www.divisionoflabour.comnoreply@blogger.com