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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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