Money, Subjective Value, and Gold
John Tamny, of Forbes magazine has written a recent article in which he takes Austrian economist David Gordon to task for not being Misesian enough in a book review of Money by Steve Forbes and Elizabeth Ames.
John Tamny, of Forbes magazine has written a recent article in which he takes Austrian economist David Gordon to task for not being Misesian enough in a book review of Money by Steve Forbes and Elizabeth Ames.
The story of the destruction of the German mark during the hyper-inflation of Weimar Germany from 1919 to its horrific peak in November 1923 is usually dismissed as a bizarre anomaly in the economic history of the twentieth century. But no episode better illustrates the dire consequences of unsound money or makes a more devastating, real-life case against fiat-currency: where there is no restraint, monetary death will follow.