The Cultural and Political Consequences of Fiat Money

Tags: Money and Banking, Money and Banks

11/20/2014 Mises Wire Ryan McMaken

Mises Daily Thursday by Jörg Guido Hülsmann:

Our global system of fiat moneys favors spenders and borrowers over savers. Low- and moderate-income households who wish to save for the future are at the greatest disadvantage, and this has led to profound cultural changes over the past century.

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