A somewhat long but excellent transcript of some von Mises lectures on monetarism that should be required reading for all libertarians.
I selected the following quote from the article just for you, Derek - for your daily flogging
Beware the Alchemists
by Ludwig von Mises
It is very easy to write in a textbook saying that the money should be increased every year by 5% or 10% and so on. Nobody talks of decreasing the quantity of money; they want only to increase it. People say: "As economic production — or the population — is increasing, one needs more and more money, more liquidity." I want to repeat what I said which is very important; there is no way of increasing — or of decreasing — the quantity of money in a neutral way. This is one of the great mistakes that is very popular. . . But one doesn't need more and more money generally. And if one increases the money, one can never increase the quantity in a neutral way, in such a way that it does not further the economic conditions of one group at the expense of other groups.
G. Richard Newell
+1 (408) 882-4785 (ph)
1 (877) 684-4835 (fax)
Libertarian Party of California
At-Large Representative, Executive Committee
Chair, Media Relations Committee
Open PGP key fingerprint:
9128 57B0 29FB 52CD EBA0 967D 5101 1991 12A0 E26F
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