The Virtue of Hoarding - George F. Smith - Mises Institute

The Virtue of Hoarding - George F. Smith - Mises Institute: "As people increase their demand for cash balances, prices will tend to fall, and the purchasing power of the money unit will rise. The production structure of the economy remains intact — hoarding as such does not wipe out goods on store shelves, or machines in factories. If anything, it makes them cheaper."