Argentina

  The concept of credit money, introduced by Ludwig von Mises in 1912 in his work “The Theory of Money and Credit,” receives little attention. Yet the concept of credit money can be beneficial in historical analysis. Mises distinguishes between three types of money in the narrower sense: physical money, credit money, and token money […]

  “Tell me you don’t know how to dollarize without telling me you don’t know how to dollarize” should be the tagline for Argentine Economic Minister Luis Caputo’s recent statement confirming that dollarization has been discarded (if it was ever seriously on the table). In a recent interview with Luis Major at LN+, Caputo was asked directly […]

  Last week, the budgetary initiative of United States President Donald Trump’s administration, dubbed the “One Big, Beautiful Bill,” was successfully passed into law. This development prompts us to reflect on the current state of global economies, even as the intense criticism surrounding the bill may be misguided. Looking at macroeconomic data, it becomes obvious […]

  Javier Milei war mit einem revolutionären Programm angetreten. Er wollte die Ideen der Freiheit, die Ideen der Österreichischen Schule anwenden, den Argentiniern ihre Freiheit zurückbringen, den Staat, als Problem, bekämpfen, die Politikkaste beschneiden, mit der Kettensäge Regulierungen und Staatsausgaben verringern, die Zentralbank abschaffen und Argentinien zum freiesten Land der Welt machen. Die Etatisten und […]

  The last few weeks have shown a classic of the Argentine economy: the need (or urgency) for an agreement with the IMF to avoid an exchange rate crisis and (in theory) eliminate exchange restrictions. There is talk of a $20 billion loan. Argentina continues to ask international markets for an expensive financial respirator. What […]