Mises Daily
Author:
Paul A. Cantor
Online Publish Date:
One may say that, apart from wars and revolutions, there is nothing in our modern civilizations which compares in importance to [inflation]. The upheavals caused by inflations are so profound that people prefer to hush them up and conceal them. —Elias Canetti, Crowds and Power I have always regarded the German inflation as a kind of mirage, a