In the interwar period, the large Austrian banks had consciously sought to win economists of Schumpeter's standing as front men to reassure their creditors from abroad. They had also asked Mises for support several times, but he always rejected these proposals because he thought the commercial banks were all bankrupt. This was not a pose. He had in fact always kept his personal account with Austria's postal savings bank.
1 comment:
Telling point that, of course. I did the same in Russia.
Originally posted 6th January 2012
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