Monetary Theory

Recorded at Jekyll Island, Georgia; May 1992.

What is amazing about America circa 2008 is not the citizens' money illusion — history has seen that aplenty — but the utter lack of resistance to it.

Inflation has always been, the most dangerous and destructive form of taxation.

Deflation is a "great liberating force," writes Hülsmann, "because it destroys the economic basis of the social engineers, spin doctors, and brain washers."

The best use of the money would be to burn it.

The restoration of monetary freedom would also force a sharp reduction in the size and power of government.

Even zero inflation is too much when an economy is experiencing overall improvements in productivity. Sound policy in that case calls for deflation at minus the rate of productivity growth.

Recorded at the Mises Institute Supporters Summit, 1 November 2008; Auburn, Alabama.  Introduction and Award Presentation by Dr. Gary G.

Recorded at the Mises Institute Supporters Summit, 1 November 2008; Auburn, Alabama. 

Recorded at the Mises Institute Supporters Summit, 31 October 2008; Auburn, Alabama. Includes an introduction by Tom Woods.