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More money makes us rich

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Tags The FedCapital and Interest TheoryMoney and Banking

It was this very day that I was telling some visiting students about the silliness of the old populist silver movement of the late 19th century, how they ridiculously believed that all economic troubles could be solved if only the government would print more money — not realizing that more money only means watering down the value of the existing money and disturbing pricing signals along the way. How silly these people were! Ha, ha, ha. Then I get back to the computer to find that the Fed has precisely the same theory.

Jeffrey Tucker is Editorial Director of the American Institute for Economic Research. He is author of It's a Jetsons World: Private Miracles and Public Crimes and Bourbon for Breakfast: Living Outside the Statist Quo. Send him mail.

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