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In this flashback video Professor Milton Friedman breaks down how inflation has always been a manufactured problem caused by an ever increasing expansion of the money supply. He uses the high inflation of the 1970’s to highlight how the cost of living always go up and our purchasing power does not.
The information shared in this video is from an excerpt of “Free to Choose (1980)”. A book and a ten-part television series broadcast on public television by economists Milton and Rose D. Friedman that advocates free market principles.
The best way to understand future events is to learn from the past. Unfortunately, the next economic downturn will create a much more disastrous level of inflation as Central Banks worldwide aim to reach and exceed the mandated 2% CPI target.
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