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Carl Menger and the Real Bills Doctrine
Wednesday, January 14, 2015 4:48
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In the Daily Bell’s recent interview, Dr. Antal Fekete: Blowing Up Modern Austrian Economics … in a Good Way, Professor Antal E. Fekete addresses the foundational economic work and understanding of “Real Bill” money by Carl Menger. Reviewing this subject, may be a new experience for most and for mainline economists a topic that is problematic. How is it possible for central banks to use the argument of real bills, when modern academics differ with the mechanics of their cherished monetary theory?
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