I’m confused, which economist (if any) are you channelling?
Every post capitalist economist ever.
Speaking to us from the very grave, Mises tells us ole Laotsu has got it all wrong.
“You keep saying that. But I don’t think that word means what you think it means.” Mises is saying recession arises out of money and credit, not the capitalist mode of production, per se. What he is not saying, which you want it to imply, is that only government can fudge up the monetary system.
And oddly enough, this recession is mainly accompanied by underproduction. As seen on TV, nothing in a typical house in the US is made here except for the house itself.
That’s still overproduction. Too much, or more specifcally, the wrong things, were/was produced for the consumer base to buy.
Do you mean Rothbard’s Panic of 1819? That’s a 300 page book. Could you tell me where in the book he writes what you say? Or quote a little?
The whole book is about how the banks themselves expanded the money supply beyond its’ reasonable capacity.
https://forum.freecapitalists.org/t/problems-in-human-nature/5907/8
This was one of my first posts. It’s not the one I’m looking for, which is my actual first thread I created. But it alludes to my point, and has just the quote you’re looking for. I will try to find my first thread, perhaps a mod can provide a link if possible. But if not, read the book.
EDIT: actually this is hte post I was looking for. But the first one is still soemwhat relevant.
https://forum.freecapitalists.org/t/the-ideallic-businessman/5186