The moment was caught by the 37 cameras trained on Taylor Swift's table to capture her every reaction throughout the night's proceedings. In the now-viral moment which has been immortalized forever in GIF form, Taylor Swift was seen gasping in reaction to hearing for the first time that inflation, as defined by Ludwig von Mises, is actually the increase in the supply of money and not the resultant increase in prices and that when central banks inflate the currency they artificially stimulate economic activity creating malinvestments.
"No way!" said Taylor again. "And Mises wrote about all this in his 1912 Theory On Money And Credit? And Friedrich Hayek won a Nobel Prize in economics in 1974 after advancing this so-called Austrian business cycle theory? No. Way."
At publishing time, Taylor Swift was spotted writing a new song about how she was breaking up with Keynesian economic theory and drawing little hearts in her new journal from the Mises Institute.
The moment was caught by the 37 cameras trained on Taylor Swift's table to capture her every reaction throughout the night's proceedings. In the now-viral moment which has been immortalized forever in GIF form, Taylor Swift was seen gasping in reaction to hearing for the first time that inflation, as defined by Ludwig von Mises, is actually the increase in the supply of money and not the resultant increase in prices and that when central banks inflate the currency they artificially stimulate economic activity creating malinvestments.
"No way!" said Taylor again. "And Mises wrote about all this in his 1912 Theory On Money And Credit? And Friedrich Hayek won a Nobel Prize in economics in 1974 after advancing this so-called Austrian business cycle theory? No. Way."
At publishing time, Taylor Swift was spotted writing a new song about how she was breaking up with Keynesian economic theory and drawing little hearts in her new journal from the Mises Institute.