Keynesians believe that economic growth can occur only with an expanding supply of money. Growth doesn't need more money; it needs more savings.
Original Article: "Economic Growth Requires Savings, Not Money Pumping"
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Frank Shostak is an Associated Scholar of the Mises Institute. His consulting firm, Applied Austrian School Economics, provides in-depth assessments and reports of financial markets and global economies. He received his bachelor's degree from Hebrew University, master's degree from Witwatersrand University and PhD from Rands Afrikaanse University, and has taught at the University of Pretoria and the Graduate Business School at Witwatersrand University.
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