Mises Daily
Author:
Ludwig von Mises
Online Publish Date:
[This article is excerpted from chapter 20 of Human Action: The Scholar’s Edition and is read by Jeff Riggenbach .] “The boom is built on the sands of banknotes and deposits. It must collapse.” The erroneous belief that the essential feature of the boom is overinvestment and not malinvestment is due to the habit of judging conditions merely