Ludwig Von MisesLudwig von Mises stands as one of the most influential economists of the Twentieth Century, and his work, from the perspective of the presently unrolling world financial debacle, appears more important than ever. In this article that first appeared in the pages of American Opinion magazine in 1967, the great economist explains the problems of "expansionist policy" and warns, from the perspective of 1967: "Today we are still able to stop the progress of inflation and to return to sound principles of financing government expenditure. But will we have the same opportunity tomorrow?" -Ed.

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