




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. . . . A steady rate of monetary growth at a moderate level can provide a framework under which a country can have little inflation and much growth. It will not produce perfect stability... it will not produce heaven on earth... but it can make an important contribution to a stable economic society.
Inflation is like those trick birthday candles, the ones that are impossible to blow out.

Inflation is capable of being stopped only by getting the government to create less money and spend less money and the reason we have inflation is because the public at large wants inflation.


