UA - Université d'Angers : EA7456 (Université d'Angers - 40 Rue de Rennes, BP 73532 - 49035 Angers CEDEX 01 - France)
AGROCAMPUS OUEST (Institut Supérieur des Sciences Agronomiques, Agroalimentaires, Horticoles et du Paysage - 65, rue de St Brieuc - CS 84215 - 35042 Rennes cedex - France)
Abstract : In recent years some economists have begun to doubt the scientific standing of the standard Austrian theory of the origin of money. They seem to think that it is only one possible solution to the problem of accounting for money’s value. Of these economists, Gary North (North 2012b) has presented the most cogent count-er-interpretation to how we should understand the theory of the origin of money as elaborated by Carl Menger and Ludwig von Mises. Unlike the rest of economic theory, the origin of money and Mises’s regression theorem do not partake of the character of a scientific law deduced from the basic principles of the science, but is rather, and is presented as such in the writings of Menger and Mises, what North terms “conjectural history.” In this essay we will respond to North’s challenge and to the economists who agree with him.
https://hal.univ-angers.fr/hal-02458484 Contributeur : Kristoffer Mousten HansenConnectez-vous pour contacter le contributeur Soumis le : mardi 28 janvier 2020 - 17:20:22 Dernière modification le : mercredi 6 avril 2022 - 16:08:17 Archivage à long terme le : : mercredi 29 avril 2020 - 16:28:10
Kristoffer Hansen. The Menger-Mises Theory of the Origin of Money - Conjecture or Economic Law?. Quarterly Journal of Austrian Economics, Ludwig von Mises Institute, 2019, 22 (1), pp.26-48. ⟨hal-02458484⟩