Austrian economists believe that growth based on monetary expansion is not sustainable and will inevitably lead to greater volatility in the market cycle.
A) True
B) False
What do Austrian Economists Believe?
Details:
Answers (1)
True.
Keynesian economists believe that printing phony money is a valid stimulus to growth. They ignore the historical fact that unbacked currency has always led to a collapse within forty years. The nation is now in the 44th year since Nixon abolished gold backing in 1971, and in the 8th year of a slow noisy collapse.