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
Every crisis becomes a religion. It’s inevitable. Especially if it lasts long enough. One factor in that transformation is the “Beautiful Theory” phenomenon. This is the phenomenon where those who sell news team up with those who seek to lead others and insist some remedy is urgently needed and politically correct — so it MUST […]
