31 of 32 people found the following review helpful
5.0 out of 5 stars
A terrifying read which is surely essentially correct, 16 Sep 2011
When I first met the Austrian School of Economics and the monetary theory of the trade cycle in 2000, in the course of looking for an explanation of the dot-com bust, I believed politicians and economists would surely not let such a theory pass if it contained any truth. By 2007, I realised the mainstream of economics contained a key intellectual error - an inadequate treatment of time.
Given that understanding of time, elastic and inflationary money is a distinct poison. That poison is now destroying our society.
Schlichter's book sets out the arguments in convincing detail. I should love to believe he is completely wrong. That no longer seems likely.
Anyone who cares about prosperity and progress should read this book.