Milton Friedman Once Said, "Inflation Is the One Form of Taxation

question 79

Essay

Milton Friedman once said, "Inflation is the one form of taxation that can be imposed without legislation." What did he mean by this? That is, how does inflation act like a tax, and why is it significant, so much so that it can be imposed without legislation?

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Definitions:

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Continuing Education

Continuing education refers to post-secondary learning activities aimed at personal or professional development, often required in various professions to maintain licensure or certification.

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Personnel Manager

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