In the wake of the 2008 financial crisis following the crash of the stock and real estate markets, Americans witnessed 1,200 of the estimated 7,000 commercial banks in the country stagger financially. As expected the FDIC sprang into action to cover bank depositor’s funds, but what many people have never realized is that the FDIC literally ran out of money!
There is probably no other of Mises’ theoretical writings more understandable to the layperson than Economic Policy Thoughts for Today and Tomorrow. There is a reason for this. This small book was compiled from a series of lectures given by Mises in Argentina in 1958 to a Spanish speaking audience of students.