Milton Friedman on the True Cause of Inflation 💸

Milton Friedman breaks down the true cause of inflation, exposing how government overspending and societal demands create a hidden tax that impacts everyone. Learn why inflation isn't about greed or overspending, but a deeper systemic issue.

Milton Friedman explains that inflation is one of the most destructive forces in society. It doesn't result from consumer overspending or business greed, as those traits have always existed. Instead, inflation arises from citizens demanding politicians perform an impossible task: spend others' money on them without taxing them in return. While people oppose inflation in principle, they often want higher prices for what they sell and lower prices for what they buy. Ultimately, inflation is a hidden tax caused by excessive government spending, and citizens bear the cost when the government spends beyond its revenue.

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