Monetary Problems
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Description
The monetary problem – the market problem – is the medium of exchange. The illusion is that one would be better off if only one had more money. Everybody should have more money. Therefore, make more money. This creates the system of inflation.
More Episodes
Mises explains why socialism always fails due to the absence of a free market pricing structure for capital goods.
Published 01/24/72
Published 01/24/72
Mises explained why socialism always fails due to the absence of a free market pricing structure for capital goods. Presented in 1971, Ron Paul alludes to this speech in his book End the Fed.
Published 01/24/72
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