Tuesday, 1 July 2014

Ludwig von Mises on Inflationism & The Destruction of the Monetary System. And a Glance at Inflationism Around The World.

Thus we see that, considered purely as a political instrument, inflationism is inadequate. It is, technically regarded, bad policy, because it is incapable of fully attaining its goal and because it leads to consequences that are not, or at least are not always, part of its aim. The favour it enjoys is due solely to the circumstance that it is a policy concerning whose aims and intentions public opinion can be longest deceived. Its popularity, in fact, is rooted in the difficulty of fully understanding its consequences.
In a social order that is entirely founded on the use of money and in which all accounting is done in terms of money, the destruction of the monetary system means nothing less than the destruction of the basis of all exchange. 
The Theory of Money & Credit, Ludwig von Mises 

Inflationism [monetary expansion] around the world