What people today call inflation is not inflation, i.e., the increase in the quantity of money and money substitutes, but the general rise in commodity prices and wage rates which is the inevitable consequence of inflation. ~Ludwig von Mises
Related Articles
Ken Burns’s Civil War
Posted on Author Glaucon
The following article ends up by making an important point regarding the famous Ken Burns documentary on the Civil War: “Watching the film, you might easily forget that one side was not fighting for, but against the very things that Burns claims the war so gloriously achieved. Confederates, you might need reminding after seeing it, […]
On the Price of Corn and Management of the Poor, November 1766
Posted on Author Lysander
Ben Franklin, November 1766 I am for doing good to the poor, but I differ in opinion of the means. I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it. In my youth I traveled much, and I observed […]
Ken Burns’s The War
Posted on Author Glaucon
Further to my previous post, here is a great summary of Ken Burns’s recent documentary “The War”, which is actually worse than his Civil War one.