Forget the New York Times and other publications that cheerlead for the current regime. Austrian economics spells out the consequences for reckless monetary policies, and those consequences are unavoidable.
With negative growth now falling near or below –10 percent for the sixth month in a row, money-supply contraction is the largest we've seen since the Great Depression.
The common belief is that inflation is the general rise in consumer prices. However, rising prices are a symptom of inflation, which really is expansion of the money supply.
With negative growth now falling near or below –10 percent for the third month in a row, money-supply contraction is the largest we've seen since the Great Depression.
By corrupting the meaning of inflation, mainstream economists have given a false picture of what happens when monetary authorities expand the money supply. Mises and Rothbard understood.
With growth now falling near or below negative 10 percent for the second month in a row, money-supply contraction is the largest we've seen since the Great Depression.
Can the injection of new money into the economic system enhance economic growth? Not really. Increasing (or decreasing) the money supply affects the demand for money but doesn't make us wealthier.
Can the injection of new money into the economic system enhance economic growth? Not really. Increasing (or decreasing) the money supply affects the demand for money but doesn't make us wealthier.
