as if Don Boudreaux on May 22, 2023
in Inflation
… from Bruce Caldwell and Hansgeorg Clausinger 2022, page 144. Hayek: A Life: 1899-1950 [reference deleted; link added]:
Season [first world] War [Ludwig von] Mises was renowned for his financial prowess, but in the face of Austria’s hyperinflation, simple insights from the theory of the quantity of money were no longer necessary to turn to the subtleties of monetary texts. Solution. This is highlighted in the “Apocalyptic History” memory [by Hayek] In an interview, “Mises was asked how to stop this inflation. He said, ‘Let’s meet in this building at 12:00.’ The name? Turn it off.'”
