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Pittsburg, Kansas | That is not what I get out of the article, or at least what Rothbard teaches.
It is the artificially loose money policy that leads to market distortions which leads to malinvestments. These malinvestments eventually can not be sustained, and the artificial boom brought about by easy money policies eventually always turns into a bust.
It is the original loose money policy that causes all the problems. The bust is just a symptom of the problem and a natural result of the original mistake.
John | |
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A different view of the 1929 market crash
