I just finished reading Selgin’s response to Bagus and Howden, and I must say that it appears as though he has successfully combated many of the criticisms levied against him and monetary equilibrium theory in general. That being said, he introduces an argument that I find somewhat confusing if not …

Esuric, the simple anser is that people are saving whenever they refrain from spending on current consumption. Since a person who holds some money necessarily refrains from spending it for as long as he or she holds it, holding koney is necessarily saving. But as I explain in my comment, whether an a…

The Theory of Free Banking, Selgin, 1988, chapter 5, Increased Money Demand : To summarize, a general increase in the demand for inside money is equivalent to a general decline in the rate of turnover of inside money. Bank notes change hands less frequently, and holders of demand deposits write fe…

Wow, I must say I don’t consider myself fully informed regarding the case for or against free banking but I’ve been thinking the same thing for a while! Do forgive me for trying to turn a thread that was meant to answer 1 question regarding that article into , but from skimming I noticed early in …

A: Your question asks me to repeat here the sum of several of my articles and books, not to mention some essential monetary economics background! So, no, I can’t begin to do it! I’ll refer tyou to my pamphelt Less Than Zero; but even that requires some basic macro stuff as background. Perhaps though…

Indeed it does, and thank you for the quick response. Your position on this matter seems to diverge from the position held by Hayek in P@P and Mises’ typology of economic goods. As I’m sure you know, Mises categorizes economic goods into three distinct classes, and Hayek asserts that time preferenc…

From what I understand, Rothbard and the other Austrians had a different opinion on what constitutes saving compared to Selgin (I could be wrong though). In the catallacy, saving is when an individual refrains from consumption by sacrificing his availability of present goods (money that could be use…

I too have read both papers and remain thoroughly confused by Seglin’s argument. I fail to see how an increase in the demand for money creates ‘artifically’ high interest rates that need to be offset by credit expansion and vice versa. If one increases his demand for money by reducing consumption …

How do people like Selgin and Friedman always show when something is asked about them? Is someone emailing them?

I’ve got to assume they’ve got bots, assistants, or they themselves skim various locations (or at least select hotspots with a high probability) for any mention of their name.

P.S. Just in case anyone is interested in what the heck this thread is about…

A question regarding Selgin’s response to Bagus and Howden

Economics Economics Questions

I_Ryan April 4, 2011, 10:54am 12

They probably just google their name every once in a while. Actually, David Friedman said that a while ago.

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A question regarding Selgin’s response to Bagus and Howden

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