Friedrich August von Hayek

It might pay to listen to this gentleman, who speaks to us from the grave….

“To combat depression by a forced credit expansion is to attempt to cure the
evil by the very means which brought it about; because we are suffering from a
misdirection of production, we want to create further misdirection — a
procedure which can only lead to a much more severe crisis as soon as the
credit expansion comes to an end.”
– Friedrich August von Hayek
(1899-1992), Nobel Laureate of Economic Sciences 1974
1933

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