I hate to quote in bulk; but some large quotations are just so powerful in their full form. The following is one which really struck me as such:
"Those who wish to preserve freedom should recognize...that inflation is probably the most important single factor in that vicious circle wherein one kind of government action makes more and more government control necessary. For this reason, all those who with to stop the drift toward increasing government control should concentrate their efforts on monetary policy."
This was taken from F. A. Hayek's The Constitution of Liberty; the copyright of which is 1960. How for has that drift come by now?
Furthermore, as socialism seems to be the topic of late, I would like to point out that he leads into the above quote by suggesting that the dependence on government of the individual which inflation brings about and subsequent "demand for more government action" may be an argument in favor of inflation for socialists.
[PS: If you haven't read The Constitution of Liberty I highly recommend it. It was a required text for the "Political Philosophy" (PHIL 457) class I took given by Dr. Kaspar --a great class.]
"Those who wish to preserve freedom should recognize...that inflation is probably the most important single factor in that vicious circle wherein one kind of government action makes more and more government control necessary. For this reason, all those who with to stop the drift toward increasing government control should concentrate their efforts on monetary policy."
This was taken from F. A. Hayek's The Constitution of Liberty; the copyright of which is 1960. How for has that drift come by now?
Furthermore, as socialism seems to be the topic of late, I would like to point out that he leads into the above quote by suggesting that the dependence on government of the individual which inflation brings about and subsequent "demand for more government action" may be an argument in favor of inflation for socialists.
[PS: If you haven't read The Constitution of Liberty I highly recommend it. It was a required text for the "Political Philosophy" (PHIL 457) class I took given by Dr. Kaspar --a great class.]
