Mises Daily
Author:
Frank Shostak
Online Publish Date:
tax rate will not be sufficient, that it must be accompanied by a monetary policy that aims at achieving price stability. The pillar of the proposed monetary are likely to spend on the product. He will have to consider the prices of various competitive products. He will also have to consider his production costs. A producer revealed, various activities that sprang up on the back of previous loose monetary policies are abandoned, and an economic bust emerges. From this we can infer that a