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skad [1K]
3 years ago
15

What does Morgan Friedman mean, by “inflation is like taxation without legislation”

History
1 answer:
zhenek [66]3 years ago
7 0

By “inflation is like taxation without legislation” Morgan Friedman meant like inflation gets new money into economy and raises revenue, does not mean that it is a part of the legislation.

<u>Explanation:</u>

Inflation means rise in the prices of the goods and services of the economy at a continuous rate. With the increase in the prices, the revenue of the government also increases and new money also comes in to the economy, just like tax is a source of revenue for the government. But this does not mean that inflation is a part of the legislation or a part of the law, like the taxes are a part of the legislation.

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of a lot of industry.

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What  Bourbon Triumvirate felt about African American right is that one of them believe  that African Americans should speak in terms of discrimination and that college educated African Americans should stand in gap and fight against it.

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