Even in the last nine of those years the money stock increased 119 percent and consumer prices only 74 percent. This is not what the crude quantity theory of money would have predicted, but there are three broad explanations.
Henry Hazlitt • The Inflation Crisis and How to Resolve It
Three important questions remain unanswered in this gigantic work, exposing a glaring hole in its logic. First, why is there no comparison of the 1920 and 1929 depressions? The former didn't last long even though the Fed did not intervene in the way the authors recommend. Second, why is it that the United States had never suffered a financial crisi
... See moreSaifedean Ammous • The Bitcoin Standard: The Decentralized Alternative to Central Banking
