Mises Daily
Author:
Jörg Guido Hülsmann
Online Publish Date:
taking its credits. It is obvious that few firms can afford to resist such offers. Competition is fierce in most industries, and the firms must seek to use the best terms available, lest they lose that “competitive edge” that can be decisive for profits and also for mere survival. It on prior savings. It is not an exaggeration to say that, through their monetary policy, Western governments have pushed their citizens into a state of financial