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“Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money tha
by majinuub 4y ago
“Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.” - Milton Friedman
- imtringued 4y agoYou know, Milton Friedman forgot to control for money velocity, imagine if he had thought of that like Irving Fisher did.