The most important single central fact about a free market is that no exchange takes place unless both parties benefit. Underlying most arguments against the free market is a lack of belief in freedom itself.

Milton Friedman

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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