This quote by Milton Friedman implies that inflation, which is the increase in the basic level of rates of products and services with time, can be similar to a type of tax. Nevertheless, unlike traditional taxation which is generally carried out through legislation and government policies, inflation occurs naturally without any direct input from authorities. To put it simply, Friedman is recommending that inflation can have a similar effect on the economy as taxation, even though it does not featured federal government approval or oversight.
This quote is written / told by Milton Friedman between July 31, 1912 and November 16, 2006. He/she was a famous Economist from USA, the quote is categorized under the topic Finance. The author also have 34 other quotes.
