To analyze the feasibility of applying the Coase Theorem, this article uses two traditional arguments, economic calculation and non-neutral effects, found in the Austrian literature. This article argues that the efficiency calculation a judge undertakes is problematic and that his decision...

Among the cited historical cases of free banking is the National Law of Guaranteed Banks in Argentina (1887-1890), a system which proved to be unstable. This historical case presents relevant risks that are attributed to free banking, the absence of proper regulation and a formal lender of last...

In Time Deposits, Dimension, and Fraud (2009), William Barnett and Walter Block argue that by borrowing short and lending long there is an over issuance of property rights. Their article, however, does not fully extend the consequences of their contribution. Once this is done, it becomes clearer...

The discussion of what is and what is not inflation has become important among the Austrian economists in their debate regarding free banking with fractional reserves versus banking with 100-percent reserve. Many Austrians also turn to the writings of Ludwig von Mises to find out what he himself...

This article studies the main aspects of free banking to put forward the argument that such a system is endogenously stable and that financial crisis is an exogenous phenomenon. In support of this conclusion, it analyzes the cases of bank runs, concerted expansion and how free banking would...

Concerted expansion is a common concern in free banking. This situation is sometimes expressed as a prisoner's dilemma game, as Huerta de Soto (1998 [2006], pp. 664-671) does to show that banks have incentives to collude and expand fiduciary media. This approach, however, does not accurately...

The interpretation that Mises preferred banking with a 100% reserve requirement finds strong support in Huerta de Soto's Money, Bank Credit, and Economic Cycles. This article seeks to review his arguments concluding that it is in fact more feasible to interpret that Mises preferred free banking...

We study a case that applies hermeneutics to social sciences, in particular to the Austrian school of economics. We argue that an inaccurate treatment of hermeneutics contributed to an epistemological downgrade of the Austrian school in the economic scientific community. We discuss how this...

This paper summarizes Horwitz's contributions in Micro-foundations and Macroeconomics: An Austrian Perspective and evaluates its connection with recent contributions in Austrian macroeconomics. The paper emphasizes the connection between relative price, monetary equilibrium, and monetary policy....

While Buchanan is best known for the economics of politics and constitutions, his seminal contributions to this field are but one branch of his more underlying methodology and approach to doing social science. Buchanan's fundamental project was to re-orient economics and social science toward an...