Heinz Blasnik- Views You Can Use Message Board

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Strategies & Market Trends : Heinz Blasnik- Views You Can Use

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To: LLCF who wrote (2285)	6/10/2003 12:01:29 AM
From: GraceZ	Read Replies (3) of 4905

But Mises clearly states: "From this we an conclude that inflation is a general increase in the money supply." Von Mises was wrong since there have been extended periods of rising money supply without inflation. Also, there have been extended periods of declining money supply with definitive inflation. During the '70s the real money supply fell. So just when does Von Mises' concept come into play? Haphazardly? Besides, who says Von Mises has a corner on the market for economic knowledge? Further clarification: <<"Inflation, as this term was always used everywhere and especially in this country, means increasing the quantity of money and bank notes in circulation and the quantity of bank deposits subject to check. Make a bad assumption, reach a bad conclusion. But people today use the term `inflation' to refer to the phenomenon that is an inevitable consequence of inflation, that is the tendency of all prices and wage rates to rise. > But it isn't an inevitable consequence. Just when does that consequence follow money growth? Just when does one throw in the towel on the presumed "inevitable consequence"? How long before Von Mises' theory can be considered to have failed?

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