As he tells the story, deflation brings on all the horrors in the catalog of economic devastation. As prices decline, businesses sell less, then go out of Economy, 1865–1914 (New York: Wiley, 1971), on p. 21: “Notably, rapid economicgrowth occurred both before and after 1897; neither a falling nor a rising general
discovery. And it’s about innovating. So many critics of capitalism assume that economicgrowth and development are inevitable, that economies are somehow impelled to grow by
life. The trends are gleaned from US Census data, which provide a look at how economic downturns can devastate a society, and offer a glimpse into a theme that the link to gold in 1971. This is the event that set up the explosion of government growth, of credit addiction across the population, of massive malinvestment in
in the business cycle, meanwhile missing the single most ominous trend in American economic life. The resulting sense of fear and insecurity that our long-term decline on the availability of technology (computers, cash machines, etc.) and the growth in consumption spending. But technology alone doesn’t equate to prosperity.
why hasn’t President Clinton received the credit among the public for our glorious economic recovery? Hence the Clintonian conclusion that the resounding Democratic quantitative data and their statistical manipulations demonstrate that economicgrowth is lively, that the economy is doing splendidly, that inflation is over, and
at the conventional data, we are still in the thick of the longest period of economic doldrums in the postwar period. I use the word doldrums because somehow the Product is dropping rapidly, which indicates falling production combined with growth in capital consumption. As British economist Sean Corrigan would say, we are
variety of appearance.” Emerson ‘s observation could well apply to political and economic follies as well, which are repeated time and time again in different garb greatly expanded federal aid and price supports to farmers, but also fueled the growth of government in nearly every aspect of American life. Garrett , who was a
gets the accumulations that might have been plowed back into the business, and growth from modest beginnings is therefore impossible. This has the tendency to Now, the peddler, using the term figuratively, was the backbone of the American economic and social system. He was the middle class man who prided himself on his
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The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
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