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Monday, February 28, 2011

From the FEE Archives: Friedman on Inflation


Milton Friedman’s 1958 Mont Pelerin Society essay on inflation is the subject of a new post “From the Archives.” Here’s a teaser:

Friedman believed the source of inflationary pressure mainly stemmed from calls for governmental responsibility and action to correct deviations from full employment. Keynesian policy subscriptions clearly had become ingrained in the public and political consciousness as solutions to any economic downturn.

 


  • Nicholas Snow is a Visiting Assistant Professor at Kenyon College in the Department of Economics, and previously a Senior Lecturer at The Ohio State University Economics Department. His research focuses on the political economy of prohibition.