“But when States did debase the coinage, it was always from purely fiscal motives. The government needed financial help, that was all; it was not concerned with questions of currency policy.”

Austrian economist and social theorist of the early-to-mid 20th century, Ludwig von Mises is best known for his rigorous defense of classical liberalism and free-market economics. His work in praxeology—an a priori method of social science—shaped modern libertarian thought, while his critiques of socialism and central planning remain foundational in economic theory.