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The New Arthurian Economics

 
 
 
 
 
Art Shipman

by Art Shipman

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Not the printed dollar, but the $35 of credit-money erected upon it, is the cause of inflation today. Excessive reliance on credit is the cause of inflation, and stagnation, and debt accumulation, and finally, of Mr. Paulson's credit crisis.

Excessive reliance on credit is the result of economic policy.

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01/18/2009
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