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On the Manipulation of Money and Credit
Book • 2011
In 'On the Manipulation of Money and Credit' Ludwig von Mises analyzes how central bank interventions distort interest rates and mislead entrepreneurs, producing unsustainable booms and painful busts.
The essay explains the Austrian Business Cycle Theory: artificially low interest rates trigger malinvestment by making long-term projects appear profitable.
Mises argues that only real savings can sustainably finance genuine capital accumulation and that credit manipulation leads to systemic instability.
His critique underpins much modern skepticism of fiat monetary policy and supports advocacy for sound money alternatives.
The work remains influential among economists and commentators who question central banking and monetary expansion.
The essay explains the Austrian Business Cycle Theory: artificially low interest rates trigger malinvestment by making long-term projects appear profitable.
Mises argues that only real savings can sustainably finance genuine capital accumulation and that credit manipulation leads to systemic instability.
His critique underpins much modern skepticism of fiat monetary policy and supports advocacy for sound money alternatives.
The work remains influential among economists and commentators who question central banking and monetary expansion.
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Guy Swann
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Read_941 - Number Go Down - Part 2
