The View From 1776

The Daily Socialist - 6/28/10

      http://www.thomasbrewton.com/index.php/weblog/the_daily_socialist_6_28_10/

The Fed’s expanding the money supply adds nothing to wealth.


Quote:

The more I read Paul Krugman’s columns and papers, the more I realize just how great the gulf is between Austrian and Keynesian thought. It is impossible to sum up all of the differences between the two camps, but I do think that perhaps the disparities can be summed up in the Austrian rejection of Keynes’ famous 1943 statement that expansion of credit by the central bank will create a