Money, Bank Credit, and Economic Cycles - The Ludwig von Mises ...

Index of Subjects 859Banking reformin Argentina, 783–86Perón, General Juan, criticalanalysis of his bankingreform, 783–86proposal to reform, advantages,745–60stages in, 789–91strategy for reforming, essentialprinciples, 788–89to prevent economic cycles,746–48See also National debtBanking School, 254ndebate with CurrencySchool, 622–30definition, 601n, 623–24in the School of Salamanca,601Banking systemand the capacity for creditexpansion, 200–23, 231–38compared with stock market,460nmodern, beginning of, 109system of small banks, 223–31Banknotes, their issuance andtheir equivalence to depositcreation, 244–54, 625–27Barcelona’s Bank of Deposit,62–63Bayes’s theorem, impossibility ofapplication in economics, 386Bookkeeping, double-entry, 59nBoom, characteristics of, 352nBudget deficit finance, 474–75Bundesbank, 790Call option (purchase), 159nCapital goodand convertibility, 280as future-oriented, 281as temporary, 279–84circulating, 299definition of, 272depreciation of, 280effect of market price of onthe productive structure,325–28fixed, 299non-convertible, in the economiccycle, 414Capital theory, 266–312Capitalcapitalist, concept of, 277concept of, 282Künstliches kapital, or “artificialcapital” in Geyer, 643marginal efficiency of, 555–57monetarists’ “mythical” conceptof, 512–22mythical concept of, Austriancriticism, 518–22productivity theory of interest,516nsquandering of, 412Carr v. Carr, 125nCase probabilities, 386Central bank, 629artificial incentives for performance,660–61case for, 635–39cooperation with privatebanks, 648–49eradication of, 754–56result of fractional-reservebanking, 638Central banking vs. free banking,631–46Certificate or receipt of irregulardeposit in Roman law, 29Chicago School, its 100-percentreserve plan, 731–35