Friday 22 April 2022

"...money rots" [updated]


Source: RBNZ


"In a world where central banks actively court inflation, money rots."
~ Lionel Shriver, from his 2016 dystopian novel The Mandibles [hat tip Cafe Hayek]

 


 


UPDATE:

Ludwig Von Mises nailed it in 1923 with his essay 'Stabilisation of the Monetary Unit' (collected in On the Manipulation of Money and Credit [pdf], p. 43):
"Inflationism, however, is not an isolated phenomenon. It is only one piece in the total framework of politico-economic and socio-philosophical ideas of our time. Just as the sound money policy of gold standard advocates went hand in hand with liberalism, free trade, capitalism and peace, so is inflationism part and parcel of imperialism, militarism, protectionism, statism and socialism."

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