Inflation is taxation without legislation.
From Milton Friedman
The only relevant test of the validity of a hypothesis is comparison of prediction with experience.
Every friend of freedom must be as revolted as I am by the prospect of turning the United States into an armed camp, by the vision of jails filled with casual drug users and of an army of enforcers empowered to invade the liberty of citizens on slight evidence.
So that the record of history is absolutely crystal clear. That there is no alternative way, so far discovered, of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by a free enterprise system.
Many people want the government to protect the consumer. A much more urgent problem is to protect the consumer from the government.
Inflation is the one form of taxation that can be imposed without legislation.
4 perspectives
3 perspectives
2 perspectives
1 perspectives