Those of us not receiving the new money will be crowded out of the market only to see the prices of our purchases rise and our planning and value of our savings dissipate as it takes more and more money to do in the future what we could today have done for less.
A return to sound money is needed. This would, as outlined by many Austrian economists, require putting an end to government's monopoly over monetary affairs.
From “Choice in Currency: A Path to Sound Money”; the Mises Circle in Vancouver. Recorded 13 September 2008.
From “Choice in Currency: A Path to Sound Money”; the Mises Circle in Vancouver. Recorded 13 September 2008.
Austrian Economics offers an elegant, logical, and thoroughly causal explanation of how money came to be, again demonstrating the power of the free
It is reality vs. fiat, independence vs. dependence, value that lasts vs. value that is the whim of the transitory political class.
Mises proposed ending the government money-supply monopoly — which he identified as the root of the problem — and returning money to the free market.
Unless a businessman can forecast when the crash will occur, it is to his advantage to take the new money and stay abreast of the competition.
A "seizure" of possessions and an "injury" to the people have occurred because "what is declared to be more is worth less."
This audio essay, narrated by Gennady Stolyarov II, is found in The Austrian Theory of the Trade Cycle and Other Essays (pp.
