Quote by John Maynard Keynes

By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.

By a continuing process of inflation, government can confisc

Summary

This quote highlights the potential negative impact of inflation on citizens' wealth. It suggests that governments can covertly reduce the purchasing power of their citizens by gradually increasing the general price level through inflation. As prices rise, the value of money decreases, resulting in a "confiscation" of wealth as individuals are able to purchase fewer goods and services with the same amount of money. The statement emphasizes the silent and indirect nature of this wealth transfer, suggesting that it occurs without citizens realizing or fully understanding the impact of inflation on their financial well-being.

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By John Maynard Keynes

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