“How important is sound money? The whole of civilization depends on it.” - Lew Rockwell









“How important is sound money? The whole of civilization depends on it.” - Lew Rockwell
“The compulsion and coercion to which they [Roman Emperors] resorted could not reverse the trend toward social disintegration which, on the contrary, was caused precisely by too much compulsion and coercion. No Roman was aware of the fact that the process was induced by the government's interference with prices and by currency debasement.” Human Action, Ludwig von Mises, p. 763 (Scholar’s Edition).
Reviews
From Strike-the-Root:
A Novel Takes Flight by Jim Davies
November 13, 2008
With the intriguing title The Flight of the Barbarous Relic, it's a cleverly crafted story which also presents a good introduction to the Austrian theory of fiat money and the business cycle.
Then why does government force us to use unsound money?
“All paper-money systems, be they national or international, labor under the presence of moral hazard. In the long run, therefore, a global paper money cannot evade the fate of national paper money. It must either collapse in hyperinflation or force the government to adopt a policy of increasing control, and eventually total control, over all economic resources. Both scenarios entail economic disruptions on a scale that we can barely imagine today. The inevitable result would be death for many hundreds of millions of human beings.” The Ethics of Money Production, Jörg Guido Hülsmann, p. 236.