Quote by Milton Friedman

Inflation is taxation without legislation.

Inflation is taxation without legislation.

Summary

This quote refers to the concept that inflation can have similar economic consequences as taxation. However, unlike taxation, which is a result of legislation and government regulations, inflation can occur naturally in the economy without any specific legislation or direct control. It highlights how inflation erodes the purchasing power of individuals and businesses, acting like an implicit tax by reducing the value of money. This quote serves as a thought-provoking perspective on the economic impact of inflation.

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By Milton Friedman

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