We consider an environment where the general equilibrium assumption that every agent buys and sells simultaneously is relaxed. We show that fiat money can implement a Pareto optimal allocation only if taxes are type-specific. We then consider intermediated money by assuming that financial...

One of the outstanding aims of most liberation movements has been to increase the economic well-being of their people, Guinea-Bissau being no exception in this respect. How far has the new Nation State succeeded in fulfilling this aim? A comparative analysis of the implementation of land...

Der Beitrag untersucht das Verhältnis von statistischen Klassifikationen und Vergleichen in deutschen Kolonialstatistiken zwischen 1885 und 1914 und geht der Frage nach, welche Bedeutung und welche Ausprägungen dem Vergleich in Bezug auf Raum und Bevölkerung in kolonialen Statistiken zukamen....

The article starts with a brief description of Mises' monetary theory, with emphasis on the Misesian differentiation of two kinds of credit: commodity and circulation credit, and with the description of the impact of circulation credit expansion on the business cycle. Further on it is described...

Currency debasement, defined as a loss of precious metal content (intrinsic value) of the circulating penny currencies over time, was a common feature in the monetary history of Europe, c. 1400–1900. Over the centuries the loss rate was sustained; between 1400 and 1900 A. D. the (south) German...

Against the backdrop of an unstable international monetary system centred around the US dollar and very dim prospects of reforming this system, this article analyses the rationale for the unilateral introduction of gold-backed currencies and the challenges and problems associated with such a...

Die Ankündigung des Social-Media-Giganten Facebook, eine neue »Weltwährung« mit dem Blockchain-basierten Zahlungssystem Libra einführen zu wollen, löste international kontroverse Diskussionen über Vor- und Nachteile von Kryptowährungen aus. Die Reaktionen reichten von Begeisterung über...