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[–] HoocOtt 1 point -1 points (+0|-1) ago 

Regardless of the immediate result, the long-run result of inflation must be to distort the structure of production, and hence to slow down the rate of balanced economic growth.

My god Mises I love ya but how hard is it to simply write "Wages grow slower then inflation"

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[–] nomenimion ago 

The way to combat the remaining pockets of poverty is to keep this system; to reduce government intervention instead of increasing it; to reduce government spending and punitive taxation — in brief, to increase the incentives to the initiative, effort, risk-taking, saving, and investment that increase employment, productivity, and real wages.

This is wrong (for our current economic situation). You can't increase incentive to invest without first restoring consumer confidence, because if people aren't spending money there's no point to upgrading your business.

We are now well into the American lost decade.

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[–] HoocOtt 0 points 1 point (+1|-0) ago 

restoring consumer confidence

QE1 QE2 QEInfinity....

How is that working out for you? Perhaps we should keep doing the same thing over and over and hope that this time it will give a different result.

I will give you credit for at least admitting there is no "consumer confidence".

But clinging to this fable after 7 years of "consumer confidence" building zero percent interest is the definition of madness.