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Sunday, April 6, 2014

Quote of the Day:Price Stability

This quote speaks to the notion of stability. Politicians seek to make the economy stable or the Federal Reserve seeks to "stabilize" prices. This objective, prima facie, sounds plausible. However, it really is not as Ludwig Von Mises states here from his epic work, "Human Action" pg 224:

"Human action originates change. As far as there is human action there is no stability, but ceaseless alteration. The historical process is a sequence of changes. It is beyond the power of man to stop it and to bring about an age of stability in which all history comes to a standstill. It is man's nature to strive after improvement, to beget new ideas, and to rearrange the conditions of his life according to his ideas."

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