'..inflation cannot be considered as a way of life and that it is imperative to return to sound monetary policies.'

'..It is never too early for a nation to realize that inflation cannot be considered as a way of life and that it is imperative to return to sound monetary policies.'

<blockquote>'This is what happened in this country as well as in many other countries in the last years. The unions, supported by the government, forced the enterprises to agree to wage rates that went beyond the potential market rates, that is, the rates which the public was prepared to refund to the employers in purchasing their products. This would have inevitably resulted in rising unemployment figures. But the government policies tried to prevent the emergence of serious unemployment by credit expansion — inflation. The outcome was rising prices, renewed demands for higher wages and reiterated credit expansion; in short, protracted inflation.

Inflation Can't Go On Endlessly

But finally the authorities became frightened. They know that inflation cannot go on endlessly. If one does not stop in time the pernicious policy of increasing the quantity of money and fiduciary media, the nation's currency system collapses entirely. The monetary unit's purchasing power sinks to a point which for all practical purposes is not better than zero. This happened again and again, in this country with the Continental Currency in 1781, in France in 1796, in Germany in 1923. It is never too early for a nation to realize that inflation cannot be considered as a way of life and that it is imperative to return to sound monetary policies.'

- Ludwig von Mises, The Economics and Politics of My Job</blockquote>


Context

<blockquote>'..ethics in particular..' - Banking Reform

'..economic mainstream..' - '..a “monster” or “legal aberration,”..'

'..victimized by the schemes of inflationists..'

'..the structural damage the last credit boom has wrought..'

Policy Deserving Of A Rant - By Doug Noland

'..cheap credit would ultimately lead to a lingering infirmity..'

(Full Reserve Banking) - '..tackling deficits.' - '..work rule reforms and pension reforms, not higher taxes..'

'May sound ideas win the day, and may human society flower again.'</blockquote>