Sticky Prices ~ Ethics of Money Production
World Crypto Network
Reading from 'The Ethics of Money Production' (Mises Institute). Sticky prices theory assumes money supply growth cures unemployment caused by labor unions pushing wages too high, but fails because unions anticipate inflation and increase wage demands accordingly, producing stagflation (as in 1970s France and Germany). Cheap money theory assumes printing money lowers interest rates and spurs growt
https://relay.towardsliberty.com/8dc05ad89043f1bae116efba93ce37da722dc9e3132f2c0122b9003e616eaca3.mp4
World Crypto Network
Reading from 'The Ethics of Money Production' (Mises Institute). Sticky prices theory assumes money supply growth cures unemployment caused by labor unions pushing wages too high, but fails because unions anticipate inflation and increase wage demands accordingly, producing stagflation (as in 1970s France and Germany). Cheap money theory assumes printing money lowers interest rates and spurs growt
https://relay.towardsliberty.com/8dc05ad89043f1bae116efba93ce37da722dc9e3132f2c0122b9003e616eaca3.mp4