The smallest minority on earth is the individual. Those who deny individual rights cannot claim to be defenders of minorities.

Ayn Rand

How To Cure Inflation

Free To Choose Part 9

Inflation results when the amount of money printed or coined increases faster than the creation of new goods and services. Money is a "token" of the wealth of a nation. If more tokens are created than new wealth, it takes more tokens to buy the same goods. Milton Friedman explains why politicians like inflation, and why wage and price controls are not solutions to the problem.

Author: Milton Friedman
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