Mises Wire
Author:
Matt Ray
Online Publish Date:
example: During the only stable dollar eras of the last century, annual GDP growth averaged 4.9% in 1922–29, 4% in 1948–71, and 3.7% in 1983–2000. The volatile policies, . . . were also guided—or rather misguided—by the fashionable economic theory of a stable price level as the goal of monetary manipulation.” It may