Mises Wire

Facebook icon
LinkedIn icon
Twitter icon
Home | Blog | Fiat Money and Collective Corruption

Fiat Money and Collective Corruption


This article by Thorsten Polleit explains how Bernanke can get away with his monetary policy and the likely outcomes of that policy. Well worth reading.

In this article it will be argued that collective corruption—which is the logical result of government interventionism in the field of money production—can explain why public opinion accepts adherence to an economically and socially destructive monetary policy. Collective corruption can also explain why returning to sound money faces such high, perhaps insurmountable, hurdles once fiat money has been put into place.

Mark Thornton is a Senior Fellow at the Mises Institute and the book review editor of the Quarterly Journal of Austrian Economics. He has authored seven books and is a frequent guest on national radio shows.

Image source:

Add Comment

Shield icon wire