Political Economy Quote of the Week for 20121015

“… a fall in the value of money is, and always has been, considered an extraordinarily effective means of increasing economic welfare. This is a mistaken view, for an increase in the quantity of money results in no increase of the stock of consumption goods at people’s disposal.” – Ludwig von Mises, The Theory of Money and Credit

Advertisements
This entry was posted in Political_Economy and tagged . Bookmark the permalink.