Quote — Milton Friedman

“Inflation is a disease, a dangerous and sometimes fatal disease, a disease that if not checked in time can destroy a society.  Examples abound.  Hyperinflations in Russia and Germany after World War I—when prices sometimes doubled and more than doubled from one day to the next—prepared the ground for communism in the one country and nazism in the other.  The hyperinflation in China after World War II eased Chairman Mao’s defeat of Chiang Kai-shek.  Inflation in Brazil, where it reached about 100 percent a year in 1954, brought military government.  A far more extreme inflation contributed to the overthrow of Allende in Chile in 1973 and Isabel Perón in Argentina in 1976, followed in both countries by the assumption of power by a military junta.”

– Milton Friedman, Free to Choose

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One Response to Quote — Milton Friedman

  1. Reblogged this on freeupcapital and commented:
    Pure greatness

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