Inflation Is State-Sponsored Terrorism

Posted by freedomforall 2 months, 2 weeks ago to Economics
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"First, we explain inflationism in human terms, to personalize it and debamboozle it. Make monetary policy vital and immediate, not boring and dry and technocratic. Again, there are enormous moral and civilization components to monetary policy. Inflation not only harms our economy, it makes us worse people: profligate, shortsighted, lazy, and unconcerned with future generations. Professor Guido Hülsmann literally wrote the book on this. It’s called The Ethics of Money Production. This is maybe the greatest untold story in America today: the story of not only how the Fed fundamentally shifted our economy from one of production to consumption, but what it did to us as people. Don’t let them hide behind complex Fed speak the simple reality: monetary policy is nothing less than criminal theft from future generations, from savers, and from the poorest Americans, who are furthest from the money spigot. The idea that reasonably intelligent laypeople cannot understand monetary policy, that it is too important and complex for anyone but experts, is nonsense. We should expose it.

Second, ridicule the absurd idea that “policy” can make us richer. More goods and services, produced more and more efficiently, thanks to capital investment—and thereby creating price deflation—make us richer. That’s the only way. Not legislative or monetary edicts."

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  • Posted by bubah1mau 2 months, 2 weeks ago
    Good introduction to Mises Institute. Market-determined, commodity-based money is the answer to limiting inflationary/deflationary spirals. Laissez-faire should extend to money as well as other aspects of business.
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