"The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.... The advocates of public control cannot do without inflation. They need it in order to finance their policy of reckless spending and of lavishly subsidising and bribing the voters."~ Ludwig von Mises, composite quote from Economic Policy: Thoughts for Today and Tomorrow, and The Theory of Money and Credit [hat tip Mises Celebration Group]
Wednesday, 13 July 2022
Inflation - 'financing a policy of reckless spending, and lavishly subsidising and bribing the voters"
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