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Source link: http://blog.mises.org/3914/real-bills-and-the-great-depression/

Real Bills and the Great Depression

August 2, 2005 by

Richard Timberlake sent in his new paper on the Great Depression, which critiques the Fed policy of the period which he says was based on the real bills doctrine. Austrians will argue with his monetary analysis but the doctrinal history is fascinating.

{ 4 comments }

Bill Koures September 25, 2005 at 12:56 am

Hello,

I have posted a detailed refutation working Sean Corrigan’s paper on real bills that also references Timberlake’s paper. Click here.

Bill Koures September 25, 2005 at 12:59 am

Sorry, my previous post got scrambled. I have posted a detailed refutation to Sean Corrigan’s working paper on real bills. Click here.

KAZ Vorpal January 14, 2011 at 2:54 pm

Actually, real Austrians will agree with Timberlake’s monetary analysis, which is entirely consistent with Austrian monetary theory.

Rothbardians will not, because Rothbard was not really Austrian on that topic.

Austrian economics really ends up centering around free banking, in monetary theory.

sweatervest January 14, 2011 at 2:59 pm

“Austrian economics really ends up centering around free banking, in monetary theory.”

So does Rothbard. That he predicts a free banking system will adopt gold and 100% reserves is not a deviation from an advocacy of free banking.

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