Mises Daily
Author:
Frank Shostak
Online Publish Date:
qualitatively one can suggest that countries like China and the former Soviet Union are generating more real wealth than in previous times on account of the medium of the exchange is dollars. So it is of no consequence whether China’s or European monetary saving is growing. These moneys cannot have any effect on prices of goods quoted in American dollars. Hence if China, Europe, or any other country is having a glut of money this cannot do much for the