Translations:Inflation/56/en
Governments do not like inflation because it makes them unpopular with the voters. But on the other hand, governments like inflation because it gives them a covert means of taxing the people. “By a continuing process of inflation,” as John Maynard Keynes said, “governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.”[1]
- ↑ John Maynard Keynes, The Economic Consequences of the Peace, 1920, quoted in F. P. Tupper Saussy, The Miracle on Main Street, (Sewanee, Tennessee: Spencer Judd, 1980).