Mises Wire
Author:
Demelza Hays
Online Publish Date:
become obsolete. This prospect is welcomed by Hayek, as government-run monetary policy is precisely what he regards as the major source of economic instability. crises were time and again attributable to the distorting effects of monetary policy implemented by governments, rather than to so-called market failures: “The customs of the majority, until its example finally persuaded others to adopt its innovations as well. - Ludwig von Mises Hayek has to bequeathed us a vital body of