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Monetary TheoryMoney and BankingValue and Exchange
Contrary to the popular way of thinking, setting in motion a consumption unbacked by production through monetary pumping will only stifle economic growth.
Booms and BustsMoney and BanksBusiness Cycles
Even if the central bank policymakers could implement policies without error, Milton Friedman’s and Robert Lucas’s monetary schemes could not secure stable economic growth.
Money and Banks
Economic growth comes from the accumulation of real wealth — which is necessary to produce more goods and services.
Money and BanksMoney and Banking
Neither loose monetary policy, nor big-spending fiscal policy can grow an economy. All that these policies can do is to redistribute a given pool of real savings from wealth generators toward non-wealth generating activities.
BiographiesAustrian Economics OverviewHistory of the Austrian School of Economics
The introduction of money does not alter the fact that individuals still have to produce something useful in order to secure some other useful goods for themselves.
To Murray N. Rothbard, pioneer of praxeological analysis with all good wishes. March 2nd, 1967. ~Ludwig von Mises