"It is not easy to determine whether there are any who still adhere in good fa..." - it is the resource of governments in search of a scapegoat. There are scarcely any independent writers nowadays who defend it

It is not easy to determine whether there are any who still adhere in good faith to the doctrine that traces back the depreciation of money to the activity of speculators. The doctrine is an indispensable instrument of the lowest form of demagogy

— it is the resource of governments in search of a scapegoat. There are scarcely any independent writers nowadays who defend it

those who support it are paid to do so.

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