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Jon's Political Ramblings

Thursday, June 26, 2008

Don't trust anyone who can't see into the future

Greg Mankiw's Blog: Don't trust anyone who can't see into the future

What Greg Mankiw fails to mention is that the housing bubble, doc-com meltdown, and the current inflation are outcomes predicted by the principles of Austrian economics. As was plain to von Mises, monetary inflation creates asset bubbles and price inflation.
Posted by Jon Perlow at 2:08 AM

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