Inflation isn’t just an occasional irritant that just happens from time to time. It’s a governmental policy that undermines the foundations of prosperity.
So argues Jeff Deist, president of the Ludwig von Mises Institute, here.
Here’s a slice: “Again, there are enormous moral and civilization components to monetary policy. Inflation not only harms our economy, it makes us worse people: profligate, shortsighted, lazy, and unconcerned with future generations. Professor Guido Hülsmann literally wrote the book on this. It’s called The Ethics of Money Production. This is maybe the greatest untold story in America today: the story of not only how the Fed fundamentally shifted our economy from one of production to consumption, but what it did to us as people.”
Read, then reflect upon, the whole thing.