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Journal des Économistes et des Études Humaines

Editor-in-Chief: Garello, Pierre

Ed. by Gentier, Antoine

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Volume 19, Issue 1 (Dec 2013)


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3 Comments on “An Austrian Defense of the Euro”

Antoine Gentier
  • Corresponding author
  • FEG, Aix Marseille Université, Centre Forbin 15-19 Allée Claude Forbin, Aix en Provence 13627, France
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Published Online: 2013-12-03 | DOI: https://doi.org/10.1515/jeeh-2013-0008


Professor Huerta de Soto has proposed a defense of the Euro using the argumentation of the Austrian School of economics. Huerta de Soto main argument relies on the federal monopoly of money is a preferable situation than the monetary nationalism that prevailed before. Our article aims to open a debate on the question of the Euro. The main argument used in the discussion relies on the fiscal question. Public deficits and public debts in the Euro zone seem to dominate monetary institutions issues.

Keywords: money; euro; bank; European reforms; monetary policy


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About the article

Published Online: 2013-12-03

Huerta de Soto (2013).

To avoid any confusion, the reserve ratios observed in a free banking industry such as Massachusetts was 17% for gold/(deposits + notes) in 1858. The same ratio for the Banque de France was 58%. The paradox is the higher reserve ratio does not prevent the monopoly note issuer to increase its circulation, but competition prevented money substitute creation in the case of free banking.

See Nataf (1982), Gentier (2000, 2003).

Bédard and Gentier (2013), Coquelin (1848, 1850, 1876), Carey (1840), Nataf (1982, 1993).

Gentier (2012).

Rueff (1981).

A more detailed analysis of the Spanish crisis is done in Gentier (2012).

López (2006).

See Gentier (2010).

Citation Information: Journal des ?conomistes et des ?tudes Humaines, ISSN (Online) 2153-1552, ISSN (Print) 2194-5799, DOI: https://doi.org/10.1515/jeeh-2013-0008.

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