Mises Wire
Author:
Matt Ray
Online Publish Date:
Roosevelt would subsequently cartelize industry and agriculture, empower labor unions, spend billions on public works, and establish a federal welfare state with could redeem dollars in gold. The US would pyramid dollars on top of gold while European countries pyramided their currencies on top of dollars. The United States to unprecedented inflation. But as the amount of dollars increased rapidly , European governments grew dissatisfied with subsidizing an overvalued dollar and