The doctrine of the importance of hoards for stabilizing the objective exchange-value of money has gradually lost its adherents with the passing of time. Nowadays its supporters are few.
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About Ludwig von Mises
Ludwig von Mises was a 19th-century American austrian–american political economist. Ludwig Heinrich Edler von Mises was an Austrian and American political economist and philosopher of the Austrian school. Mises wrote and lectured extensively on the social contributions of classical liberalism and the central role of consumers in a market economy. Read more on Wikipedia →