The Fed is backed into a corner. If price inflation continues, the public could demand action and the Fed could be forced to cut back the flow of easy money, which may lead to a depression.
In 2004, Hans Hoppe delivered a series of lectures at the Mises Institute about his theory of social evolution, and we are fortunate to have this volume, based on a transcript of those lectures, now available.
The Fed’s apparent plan to somehow get full employment and then deal with inflation sounds nice, but reality could easily derail the plan. Meanwhile, job growth is low and prices are rising.
