Rothbard Explains How to Recover from an Economic Crisis

Confronted with a severely weakened economy as the consequence of the policy-ordered lockdowns, governments now get ready to apply another severe blow to the economy. The favorite means is more deficit spending. In the United States, President Biden announced a stimulus program amounting to $1.9 trillion. This amount would enter an economy that is already flush with liquidity. During the past twelve years, the American central bank has expanded its balance sheet in three major boosts, first from $900 billion in July 2008 to $2.1 trillion in November 2008…