Malinvestment, Not Overinvestment, Causes Booms

05/21/2010 Ludwig von Mises

The whole entrepreneurial class is in the position of a master builder whose task it is to erect a building out of a limited supply of building materials. Our master builder’s fault cannot be overinvestment, but only an inappropriate employment of the means at his disposal, writes Ludwig von Mises (1881–1973).

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