A Quote by Robert Higgs
Inflation is not a benign element in the economy's operation. It is, as it has always been, the most dangerous and destructive form of taxation.
Related Quotes
Inflation is the one form of taxation that can be imposed without legislation.
Inflation is a form of hidden taxation which it is almost impossible to measure.
Deficit financing proper is rather the process whereby a Government spends more money that it withdraws from the economy by taxation, borrowing, running down reserves, etc.; thereby causing in most circumstances, and very acutely in ours, monetary inflation and severe pressure on the balance of payments.
Inflation is taxation and taxation is theft that takes more money out of hard-working Americans' pocket books.
The ritual sacrifice of children has been taboo for thousands of years. Yet tragically it is practiced every day across our world. We sacrifice children on the altars of our most destructive sins. When the sickness of pornography has run to its most evil and destructive end, it takes the form of child pornography. When prostitution reaches its sickest, most depraved form, it becomes child prostitution.
Although low inflation is generally good, inflation that is too low can pose risks to the economy - especially when the economy is struggling.
The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.
Strictly speaking, it probably is not “necessary” for the federal government to tax anyone directly; it could simply print the money it needs. However, that would be too bold a stroke, for it would then be obvious to all what kind of counterfeiting operation the government is running. The present system combining taxation and inflation is akin to watering the milk; too much water and the people catch on.
Inflation is taxation without legislation.
Instead of having a set of policies that are equipping people for the globalization of the economy, we have policies that are accelerating the most destructive trends of the global economy.
What is the good of life if its chief element, and that which must always be its chief element, is odious? No, the only true economy is to arrange so that your daily labor shall be itself a joy.
The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.
Near-zero policy rates that may be considerably expansionary in an economy with high inflation could be contractionary when inflation is too close to zero, or worse, deflation has set in.
Yes, I think India's economy always has been a mixed economy, and by Western standards we are much more of a market economy than a public sector-driven economy.
Most people, if you live in a big city, you see some form of schizophrenia every day, and it's always in the form of someone homeless. 'Look at that guy - he's crazy. He looks dangerous.' Well, he's on the streets because of mental illness. He probably had a job and a home.
Most people, if you live in a big city, you see some form of schizophrenia every day, and it’s always in the form of someone homeless. “Look at that guy - he’s crazy. He looks dangerous.” Well, he’s on the streets because of mental illness. He probably had a job and a home...
Related Authors
Adam Smith Quotes
Scottish
Economist
Alan Greenspan Quotes
American
Economist
Benjamin Graham Quotes
American
Economist
Friedrich August von Hayek Quotes
Austrian
Economist
John Kenneth Galbraith Quotes
American
Economist
John Maynard Keynes Quotes
English
Economist
Joseph Stiglitz Quotes
American
Economist
Ludwig von Mises Quotes
Austrian
Economist
Milton Friedman Quotes
American
Economist
Muhammad Yunus Quotes
Bangladeshi
Economist
Murray Rothbard Quotes
American
Economist
Paul Krugman Quotes
American
Economist
Richard Thaler Quotes
American
Economist
Robert Reich Quotes
American
Economist
Thomas Sowell Quotes
American
Economist
Walter E. Williams Quotes
American
Economist