Mises Daily
Author:
Fritz Machlup
Online Publish Date:
and 1966). In this essay Mises argued that a centrally planned economy without competitive markets and market prices would be unable to engage in rational economic to say, I strictly avoided ever discussing again any questions of monetary policy with him or in his presence. Perhaps I should explain that Mises’s position still hold. As long as governments, politicians, and voters believe that monetary policy should be used to secure more employment or faster growth, it is not feasible