milton friedman Archives - Parkview Institute

Inflation Is a Shrinkage of the Monetary Unit, Nothing Else

Inflation is all over the news and commentary today, particularly after a presidential election that was allegedly all about it. The problem remains that few who utter the word grasp its singular meaning. This includes Stanford professor Jennifer Burns, who not-so-ironically wrote a book about Milton Friedman. Friedman had his own problems with the […]

As Economists Do Now, Milton Friedman Got Inflation Wrong

By John Tamny / economics, inflation, milton friedman / October 14, 2024

In a video that’s gone viral, the late Milton Friedman correctly asserts about inflation that “consumers don’t produce it,” and “producers don’t produce it.” Only for Friedman to go off track with the observation that “too much government spending” does produce inflation. Ignored by Friedman was that governments aren’t some kind of other capable of extracting spending power from Pluto,

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