Before a Bust, There Is Always a Boom (and Malinvestment)
An economic depression is not caused by a decline in the money supply per se, but results from a shrinking pool of savings made possible by a previous bout of monetary inflation.
Original Article: “Before a Bust, There Is Always a Boom (and Malinvestment)“
This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.