"We accept money because if we don't have any money we have to buy commodities with other commodities, and when we do so we are unlikely to receive the cost of production for what we sell. Have you ever tried to buy a latte at Peets with a copy of Ludwig von Mises's Money and Credit? It does not go well."
Here be dragons of economics, politics, and news ... traditionally non-partisan, but we've got to admit that we find one of the parties makes that rather hard to maintain in the present day
Thursday, September 20, 2012
Brad DeLong, Latte, and Ludwig von Mises
Of all the things Brad DeLong as written so far, this may well be the best quip yet:
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