Abstract: This paper is a short argument as to why the macroeconomic theory of monetary disequilibrium is untenable and why free bankers should shed it from their theoretical arsenal. Monetary equilibrium cannot achieve price stabilization, nor is deflation resulting from an excess demand for money harmful. These should not be considered macroeconomic goals or advantages of a free banking system.
Publication Year: 2011
Publication Date: 2011-01-01
Language: en
Type: article
Indexed In: ['crossref']
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