Robert Nef is the former President of the Board of Trustees of the Liberal Institute in Zurich, a classical libe

Can Central Banks Avoid Booms and Busts with the “Right” Amount of Money Creation?

Most economists are of the view that a growing economy requires a growing money stock, because economic growth gives rise to a greater demand for money, which must be accommodated.

Failing to do so, it is maintained, will lead to a decline in the prices of goods and services, which in turn will destabilize the economy and lead to an economic recession or, even worse, depression.