[TruthElixirX]

Austrians don't advocate for a deflationary currency, they advocate for competing currencies. Rothbard, one of the "pillars" of Austrian Economics, even stated that The Great Depression was due to deflation not inflation.

Lots of people that scratch the surface of Austrian Economics immediately start shouting the ills of inflation and such.

Most "hardcore" Austrians I know would like a currency that's supply grew with economic growth. Economy grows by x measure then so does the currency, to keep it stable.

[euroclydon]

Thanks. I knew this was wrong as soon as it left my keyboard.

I guess the problem we're having is that the Fed's mandate is to keep unemployment low, not to expand the currency as the population expands.

I really don't understand how a currency supply is supposed to track growth, when one of the means of controlling currency expansion, the discount rate, can actually stimulate growth sometimes, right?