Thursday, April 08, 2010

The Limits of Monetary Policy

Steve Baker, of the Cobden Centre, continues his exploration of Mises' Theory of Money and Credit'. Surely, you're thinking, such magnificence deserved a response from Maturin Towers? Well, you're right:
Jack Maturin April 8th, 2010 at 22:02

I reckon this passage in a ‘Theory of Money and Credit’ was Mises’ first stab towards his later assertion that socialism cannot calculate, an idea which eventually brought down the Berlin Wall. For any of your readers, Steven, who are unfamiliar with this idea, they might want to try the following link:

=> Economic Calculation In The Socialist Commonwealth

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