argument put forward War expenditure army navy met; argument put forwa — Ludwig von Mises, Theory Money Credit

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This was the argument put forward during the War when the expenditure on the army and navy had to be met; and this was the argument put forward in Germany and Austria after the War when a part of the population had to be provided with cheap food, the losses on the operation of the railways and other public undertakings met, and reparations payments made. The assistance of inflation is invoked whenever a government is unwilling to increase taxation or unable to raise a loan; that is the truth of the matter.

Ludwig von Mises, The Theory of Money and Credit

Related Authors: Ludwig von Mises | The Theory of Money | Credit

Related Topics: capitalism, economics, freedom, money

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