Mises Daily
Author:
Jörg Guido Hülsmann
Online Publish Date:
match the inferior financial terms with which they have to cope. They must be more innovative and/or work harder than their competitors. They know the price of on the other side. As a general rule, any new product and any thoroughgoing innovation in business organization is a threat for banks, because they are already on prior savings. It is not an exaggeration to say that, through their monetary policy, Western governments have pushed their citizens into a state of financial