As I expressed in my piece “For Civilization, It Is Mises Or Bust,” it seems that central banks, and the interventionist state in general, are inducing the squandering of capital at a rate that may prove fatal to civilization. We are plummeting fast into what Ludwig von Mises called the “Crisis of Interventionism”, and the only way out of it is through a widespread rediscovery of sound economics among the educated public.
In particular, it is imperative that as many people as possible gain as firm an understanding as possible of how central banks induce capital consumption. As Mises teaches us, this is done primarily through manipulation of the rate of interest. So, to understand how the Federal Reserve and its junior-partner central banks are literally destroying society, one must delve into the mystery of interest.