Milton Friedman: Inflation is just like Alcoholism

Milton Friedman compared inflation to alcoholism, stating that it is a habit that is difficult to break. He argued that, like an alcoholic, a country can become addicted to the short-term benefits of inflation, such as increased government spending and higher employment, while ignoring the long-term consequences, such as a weakened currency and rising prices. He believed that the only way to break the cycle of inflation was to take drastic measures, such as reducing government spending and raising taxes.

#Milton #Friedman #Inflation #Alcoholism

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I’ll drink to that!


so perfect it sounds like a deep fake. i have a theory: gifted macro economists are always somewhat off the reality of their time. they understand a problem so well, so perfectly but reality takes a while, sometimes forever, to live up to the conditions of their scenario. when it does their genius is universally recognized


If inflation is like alcohol then we’re about to wake up to a bad fucking headache.


They are both deadly addictions.Alcohol withdrawals kill just like inflation kills currencies.


Sure. Bitcoin is deflationary though due to its tendency to increase its purchasing power, which both Friedman and Hayek were against.


keep more printing america! make you country great again!


Hate to burst anyone’s bubble, but Friedman is a fucking idiot. Look up his position along with Bork on antitrust.

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