The two go hand in hand, argued the great Austrian economist. Read Mises’ thoughts on this here.

An introductory remark about the piece refers to a recent exchange between Ron Paul and Paul Krugman. Paul advocated returning to gold and Krugman sniffed that Paul’s idea would “take us back a hundred years.” To that, the good doctor retorted that Krugman’s policy “takes us back 2000 years,” referring to the debasement of the Roman coinage.