Mises Bibliography

LUDWIG VON MISES (1881-1973)

An excerpt follows: "Three years ago a colleague from the German Reich, who is here in this hall today, visited Vienna and participated in a ciscussion with some Vienese economists. Everyone was in complete agreement concerning the destructiveness of inflationist policy. Later, as we went home through the still of the night, we heard in the Herrengasse [a main street in the center of Vienna] the heavy drone of the Austro-Hungarian Bank's printing presses which were running incessantly, day and night, to produce new banknotes. Throughout the land, a large number of industrial enterprises were idle; others were working part-time; only the printing presses stamping out notes were operating at full speed. Let us hope that industry in Germany and Austria will once more regain its pre-war volume and that war-and-inflation-related industries, devoted specifically to the printing of notes, will give way to more useful activities." (Translated from the German)