An economic depression is not caused by a decline in the money supply per se, but results from a shrinking pool of savings made possible by a previous bout of monetary inflation.

Original Article: “Before a Bust, There Is Always a Boom (and Malinvestment)”

This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.



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Before a Bust, There Is Always a Boom (and Malinvestment)