PD Jonson of Henry Thornton on the Global Inflation Problem
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Inflation, as measured by the consumer price index, measures price increases of selected items. It does not discern between those increases which occur due to the increase in money supply and natural increases like the weather conditions affecting food supply. Inflation due to increases in the money supply is immoral. It is theft of people's wealth. Inflation due to natural phenomena is not immoral, as it is not the result of theft.
Curlz31 3 years ago
Why is debasing the currency considered a morally acceptable solution to solving a problem arising in a free market (not that any free market exists at the moment). If the price of corn goes up because of some natural phenomena like weather conditions, then people will look at other sources of food where the price has not gone up. That is freedom. Why should people who have saved have their holdings debased via inflation. That is called theft.
Curlz31 3 years ago