The Non-Price Effects of Monetary Inflation
The aim of this paper is to examine the non-price effects of monetary inflation.
The aim of this paper is to examine the non-price effects of monetary inflation.
I argue that hoarding implies a longer period of time between when resources are saved and when new consumer goods reach the market (economic growth).
As Peter Klein explains, resources in a modern economy are complex and specific — which is why we need free markets.