Eighty years ago, in the autumn of 1934, there appeared in English one of the most important books on money and inflation penned in the twentieth century, The Theory of Money and Creditby the Austrian economist, Ludwig von Mises. Even eight decades later, it still offers the clearest analysis and understanding of booms and busts, inflations and depressions.
Tagged: Central banks
Transparency, therefore, has little to do with being accountable to the political branches of government. It’s about allaying the concerns of the financial market in the face of accommodative monetary policy.