Friday, 22 April 2022

" 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]




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."

No comments:

Post a Comment

We welcome thoughtful disagreement.
Thanks to a few abusers however, we (ir)regularly moderate comments.
We *will* delete comments with insulting or abusive language, unless they're entertaining. We will also delete totally inane comments. Try to make some sense. We are much more likely to allow critical comments if you have the honesty and courage to use your real name.