History of Economic Thought
In symposiums written "in honor of" some distinguished writer, the individual contributors too often go off on tangents of their own, and develop points of view that may be irrelevant or even alien to the writer they are supposed to honor. In order to pay homage to the great contribution of Ludwig von Mises in a more direct way than in my following essay, therefore, I herewith take the liberty of reprinting reviews that I wrote of two of his most important books.
There are two main reasons usually mentioned to prefer fiat money over gold standard. One is that fiat money offers more flexibility to do fine tuning on the economy and also central banks will have their hand free if they need to go into a monetary stimulus.