[This is a guest post by Mike Sproul . Mike has posted a few times before to the Moneyess blog.] Here is a summary of the Federal R...

This is a guest post by Mike Sproul . Mike's last guest post is here . Scott Sumner and I have argued about the backing theory of m...

In the comments section of my post on Adam Smith and the Ayr Bank , frequent commenter John S. brought up the real bills doctrine . The p...

It's interesting to see how after a credit crisis, economists start to take money and banking a bit more seriously. Adam Smith, who e...