Quotation by

Milton Friedman

Inflation is taxation without legislation.

Finance

Understanding this quote AI Analysis

When the government causes inflation, it reduces the value of money people hold, effectively taking away their purchasing power. This happens without any formal approval or law, making it a hidden way of raising money like a tax.

More by this author

All quotes by Milton Friedman →

More quotes about Finance

See all →

It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.

Your net worth to the world is usually determined by what remains after your bad habits are subtracted from your good ones.

It is a kind of spiritual snobbery that makes people think they can be happy without money.

Part of your heritage in this society is the opportunity to become financially independent.

Don't gamble take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don't go up, don't buy it.

Wealth consists not in having great possessions, but in having few wants.