Both Monetarists and Keynesians believe that a growing economy requires a growing money supply, thus, the Federal Reserve‘s “target” inflation rate of two percent. Austrian economists, however, understand that inflation at any level creates economic damage.
If the Fed really believes that its technical insolvency doesn’t matter, why is it intent on
Now available at the Mises Institute book store : Life in Liberty: Liber Amicorum,a collection of
