The 1920 article by Mises is as unknown today by graduate students in economics as it was in 1990, 1950, or 1930. But at least one man in the socialist camp admitted to the New York literati that Mises was right.
Decentralized societies that value local customs, institutions, and governments are obstacles to the expansion of the regime's power. Not surprisingly, central governments do all they can to destroy this.
Even when an economic bust appears, there may still be enough real savings in the economy to quickly put the economy back on track. This is what brings economic recovery, not artificial "stimulus."
