Mises Daily
Author:
Gene Callahan
Robert P. Murphy
Online Publish Date:
Let us consider, for a moment, a complex modern economy in which the price of farm products is declining. Farmers may begin pleading for the government to stop the price drop. “Wealth is being wiped out of the economy,” they will complain, “the value of our farms has fallen 50% in the last year. This makes everyone poorer, since we can’t spend as