quote · Legacy record
The oldest and most popular instrument of etatistic monetary policy is the official fixing of maximum prices. High prices, thinks the etatist, are not a consequence of an increase in the quantity of money, but a consequence of reprehensible activity on the part of 'bulls' and 'profiteers'; it will suffice to suppress their machinations in order to ensure the cessation of the rise of prices. Thus it is made a punishable offence to demand, or even to pay, 'excessive' prices.
The oldest and most popular instrument of etatistic monetary policy is the official fixing of maximum prices. High prices, thinks the etatist, are not a consequence of an increase in the quantity of money, but a consequence of reprehensible activity on the part of 'bulls' and 'profiteers'; it will suffice to suppress their machinations in order to ensure the cessation of the rise of prices. Thus it is made a punishable offence to demand, or even to pay, 'excessive' prices.
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 119600; supplied attribution, independently unverified
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