Thursday, February 15, 2018
On Why Governments Prefer to Finance Wars Through Monetary Inflation and the Direct Manipulation of Goods and Services Rather than Through Taxation and Non-Inflationary Borrowing Strategies
Very simply because a) the latter measures are more easily hidden from the citizens and b) the bureaucrats have ultimately realized that once a citizenry gets the full appraisal of the cost of a conflict, their enthusiasm for it dissipates rapidly and may even lead to protests and other forms of active resistance.......Because they're liars, weasels, and war-whores, in other words............................................................................................Sources - Joseph Schumpeter, Joseph Salerno, and Robert Higgs.
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