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Milton Friedman1912–2006

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 on economics

The Counter-Revolution in Monetary Theory (1970)

Economics Money

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More from Milton Friedman

Underlying most arguments against the free market is a lack of belief in freedom itself.
Capitalism and Freedom (1962), Ch. 1 The Relation Between Economic Freedom and Political Freedom, 2002 edition, page 15
The society that puts equality before freedom will end up with neither. The society that puts freedom before equality will end up with a great measure of both.
From Created Equal, an episode of the PBS Free to Choose television series (1980, vol. 5 transcript).
- Freedom
The basic problem of social organization is how to co-ordinate the economic activities of large numbers of people.
Capitalism and Freedom (1962), Ch. 1 The Relation Between Economic Freedom and Political Freedom, p. 12
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More about economics

A national debt, if it is not excessive, will be to us a national blessing.
Alexander Hamilton1757–1804Letter to Robert Morris (30 April 1781)
It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own self-interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own neccessities but of their advantages.
Adam Smith1723–1790The Wealth of Nations (1776), Book I, Chapter II, p. 19.In context
Too much capitalism does not mean too many capitalists, but too few capitalists.
G. K. Chesterton1874–1936The Uses of Diversity

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