quote · Legacy record
Nevertheless statesmen are still greatly exercised by the problem of the international distribution of money. For hundreds of years, the Midas Theory, systematized by Mercantilism, has been the rule followed by governments in taking measures of commercial policy. In spite of Hume, Smith, and Ricardo, it still dominates men's minds more than would be expected. Phoenix-like, it rises again and again from its own ashes.
Nevertheless statesmen are still greatly exercised by the problem of the international distribution of money. For hundreds of years, the Midas Theory, systematized by Mercantilism, has been the rule followed by governments in taking measures of commercial policy. In spite of Hume, Smith, and Ricardo, it still dominates men's minds more than would be expected. Phoenix-like, it rises again and again from its own ashes.
Approximate author period: c. 1927 AD · modern
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- Author or tradition
- Ludwig von Mises
Attribution: attributed - Country attributed
- Not established
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- Approximate author period: c. 1927 AD · modern
Approximate author-period anchor from life dates 1881 to 1973; Wikidata Q84233, https://www.wikidata.org/wiki/Q84233 (accessed 2026-10-08). Not a quotation composition date.
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Supplied reference C; CSV row 119661; supplied attribution, independently unverified
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