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There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency system involved.
Ludwig von Mises
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Tag Archives: monetarism
The Bank of England must share the blame for the cost of living
Many central banks now have “inflation targets” that they are required to meet, and such targets are set by the government. For the Bank of England, this target is 2%, and is based on the Consumer Price Index (CPI). Some … Continue reading
Posted in Uncategorized
Tagged Austrian economics, Bank of England, central banks, economics, Federal Reserve, inflation, Keynesianism, monetarism
1 Comment
Monetarism and the windy city
Last week we wrote about the reasons for and against “creating” money, with the view of Keynesians, monetarists, and market monetarists and lastly sound money advocates (us!). Following on from this we explain the view of Milton Friedman, American economist, … Continue reading
Posted in Uncategorized
Tagged chicago school, economics, milton friedman, monetarism, sound money
2 Comments
Do we ever need to create more money?
Today, all mainstream schools of economics believe in the need to create more money in order for the economy to grow. Keynesianism Keynesians tend to favour money creation during times of recession, to boost “aggregate demand” – roughly speaking, the … Continue reading
Posted in Uncategorized
Tagged Austrian school, Bank of England, central banks, economics, gold standard, Inflation targeting, Keynesianism, monetarism, money
2 Comments
