Episode 86 – Milton Friedman Speaks – “Money and Inflation” (Podcast)

To celebrate the 40th Anniversary of Free To Choose, we are sharing some of Milton Friedman’s most compelling talks. In this original recording from 1978, Friedman covers “Money and Inflation.” Inflation is blamed on many things, but it has only one cause. It is a monetary phenomenon. Inflation occurs when the quantity of money increases faster than the quantity of goods. Why does the money supply increase? Very often it does so to enable the government to pay its bills without raising taxes. There’s only one real cure for inflation. It is a cure that’s easy to describe but difficult …