Monetary Theory

Eventually, every aspect of productive life will be so controlled that capitalist drive and ingenuity will become relics of the past.

Unfortunately, central bankers and central planners believe these statistics have relevance, justifying their interference with businesses and making us all poorer in the process — no matter what the numbers are.

Bailouts cause malinvestments that lower real output, beginning the cycle again. This cannot continue forever: it will eventually result in a runaway-inflationary depression.

These changes do not affect at the same time and to the same extent the prices of the various commodities and services. They consequently affect the wealth of the various members of society in different ways.

"A fall in normal credit (i.e., credit that has an original lender) doesn't alter the money supply and hence has nothing to do with deflation."

India's ancient and deep religious traditions, combined with a plethora of historical, cultural, and practical reasons, have fostered an unflinching desire to acquire gold as a means of protecting one's wealth.

it needs to be noted that the hypothesis of the superneutrality of money is expressive of the empiricist-positivist approach of modelling economics according to the natural sciences.

Mises not only outlined the consequences if the government continues to increase the money supply, he also outlined a monetary reform plan.

Ultimately, a living wage in Athens (or anywhere) will actually hurt the poor rather than helping them.

Pages 836-850. Narrated by Jeff Riggenbach.