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Kristoffer Mousten Hansen



Articles by Kristoffer Mousten Hansen

How Central Banks Made the Covid Panic Worse

21 hours ago

Introduction Historical events are complex phenomena, and monocausal explanations are therefore by definition wrong when explaining history. Many factors go into explaining why people and the world’s governments reacted as they did to the coronavirus. It is, however, my contention that examining the inflationary policies pursued by central banks and governments are fundamental to understanding …

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The Austrian “Credit Money” Craze of 1920

July 3, 2020

After the Great War, Austrian cities and towns began issuing their own money. The Germans tried something similar, but without the voluntary and decentralized aspects of the Austrian model. German disaster ensued. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: “The Austrian “Credit Money” Craze of 1920​​”.

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The Austrian “Credit Money” Craze of 1920

June 25, 2020

In the spring and summer of 1920 a curious phenomenon appeared in Austria. While Viennese bureaucrats were dealing with the consequences of the Saint-Germain peace treaty and Hans Kelsen was drawing up a constitution for the new republic, across Austria every small town and municipality, and even some bishoprics, merchants, and a few private persons, …

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The Quantity Theory of Money and the Equation of Exchange

June 22, 2020

Bad theories have a long life in the social sciences, and the crude quantity theory of money is one that refuses to go away. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: “The Quantity Theory of Money and the Equation of Exchange​”.

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The Quantity Theory of Money and the Equation of Exchange

June 13, 2020

One of the first things that the student of economics is liable to be tortured with when he turns to monetary theory is the equation of exchange. Based on a mechanistic understanding of the quantity theory of money, the equation purports to show the relation between the supply of money and the prices of goods. …

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The Bitcoin Standard: The Decentralized Alternative to Central Banking

May 20, 2020

The Bitcoin Standard: The Decentralized Alternative to Central BankingSaifedean AmmousHoboken, N.J.: John Wiley and Sons, 2018xviii + 286 pp. Abstract: Treating bitcoin from the point of view of Austrian economics, Saifedean Ammous’ The Bitcoin Standard relates bitcoin to the theory of the market economy as a whole. Bitcoin is not necessarily an alternative to gold, …

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What Free Market Money Would Look Like

January 18, 2020

Monetary affairs have always been subject to government intervention of one kind or another. In ancient times, these interventions were made to raise funds for public spending; by debasing the coinage, kings and other rulers could raise taxes without having to abide by constitutional rules and without raising popular anger at their spending. Increasingly, through …

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This Christmas, Let’s Celebrate a Different Scrooge: Scrooge McDuck

December 25, 2019

There is a growing genre of literature that can best be described as apologias for Ebenezer, the aim of which is to show that Ebenezer Scrooge, the main character of Dickens’s classic Christmas tale, was really a great man, unfairly put upon by spectral busybodies and hand-wringing underlings. A peaceful and honest man, Scrooge was …

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The Coming Regime of the ECB: Radical Centrism

August 3, 2019

There is a changing of the guard at the European Central Bank this year with two important new appointments. Philip Lane, the governor of the Irish central bank, was appointed chief economist of the ECB back in June. And and the current head of the IMF, Christine Lagarde, was recently nominated to succeed Mario Draghi …

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The Menger-Mises Theory of the Origin of Money — Conjecture or Economic Law?

June 20, 2019

ABSTRACT: In recent years some economists have begun to doubt the scientific standing of the standard Austrian theory of the origin of money. They seem to think that it is only one possible solution to the problem of accounting for money’s value. Of these economists, Gary North (North 2012b) has presented the most cogent counter-interpretation …

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Digital Cash: Another Dangerous New Idea in Monetary Policy

June 2, 2019

While modern monetary theory has provided some distraction for public and commentators alike, the war on cash goes on. In the latest issue of the Cato Journal, the distinguished economic historian Michael Bordo and his co-author Andrew Levin lament the failure of the experiments in unconventional monetary policies of the last decade to stimulate aggregate …

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