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

question 124

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 that it can be imposed without legislation?

---

Definitions:

Directing Conversation

The act of guiding or controlling the flow and topics of a conversation.

Active Process

A procedure or operation that involves energy expenditure and action to achieve a specific result or change.

Disease Process

The disease process refers to the sequence of events involved in the development and progression of a disease, including its cause, symptoms, and effects on the body.

Diaphoresis

Excessive sweating, often due to an underlying medical condition or physiological response to stress.