Even the most sincere politician or earnest central banker cannot write reality off the book; nature audits every decree. True prosperity cannot be printed, legislated, or conjured by mere will; value can only be created through effort. Once we adopt the premise that value is whatever we say it is, we undermine the basic laws of production and exchange, setting the stage for hidden debasement, spiraling debt, and the collapse of real prosperity.

— Neal Flesher, Modern Chains (Chapter 1)

Get the free book (PDF + audiobook)