Smash Notes
When Are We Going to See the Next Major Inflation
at 19:36
Answer
Governments want to spend money without taxing it, and the only way to do it, according to Milton Friedman, is by printing money, which causes inflation.
Sooner or later the government will want more money, and in a world where people don't except a major inflation, is exactly the place where you can successfully have one.
Where this answer comes from
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- EconTalk
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- Milton Friedman on Money
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More notes from this episode
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- How Is Interest Rate Used to Control the Value of Money Transcript
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- When Are We Going to See the Next Major Inflation Transcript
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