The belief that a sound monetary system can once again be attained without making substantial changes in economic policy is a serious error. What is needed first and foremost is to renounce all inflationist fallacies. This renunciation cannot last, however, if it is not firmly grounded on a full and complete divorce of ideology from all imperialist, militarist, protectionist, statist, and socialist ideas.
- Ludwig von Mises in Stabilization of the Monetary Unit— From the Viewpoint of Theory, Introduction, VIII: The Ideological Meaning of Reform, final paragraph. Quoted by Thorsten Polleit, at the end of his article Fiat Money and Collective Corruption.
I am about to attend a Mises Circle discussion of Polleit’s article this evening, at the IEA.