Libertarian Papers
Author:
Laura Davidson
Online Publish Date:
bank lending resumes. But are these opinions based on a sound understanding of economics? The first part of this article examines the causes of price inflation and (a) an analysis of historical data is a poor method of determining any kind of economic principles, and (b) the empirical analysis itself is flawed because no effects of this kind of credit expansion are precisely the opposite of the kind of growth that results from an increase in voluntary saving. Time loans and the business