Monday, October 29, 2012

Minsky Concurs with Austrians on This Point!

Well, at least on the second half of it:

"It will be argued that the combined behavior of the government and of the central bank, in the face of financial disarray and declining income, not only prevents deep depressions but also sets the stage for a serious and accelerating inflation to follow." -- Stabilizing an Unstable Economy, p. 15

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