So I’ve been reading through two chapters in Rothbard’s What Has Government Done to Our Money?: The Problem of Hoarding and Stabilize the Price Level? . The basic theory seems to be that if money supply stays constant and the quantity of goods in the economy rises, or if effective money supply drops …

Static money supply and sticky prices

Inquisitor February 6, 2008, 7:17am 21

Jimmy the assumption is that we’re dealing with an unregulated labour market. Interventionism has not entered the picture at this stage.

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