Milt Harris ——Bio and Archives--December 21, 2025

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The textbook definition of Inflation is the general increase in the prices of goods and services over time, which decreases the purchasing power of money. This phenomenon is not about the cost of a single item but about a widespread rise across the economy, driven by factors such as increased consumer demand, higher production costs, or an expanding money supply. Inflation is typically measured as a percentage change in price indexes, such as the Consumer Price Index (CPI).

However, Friedman places most of the blame for inflation on the government's printing more money and injecting it into the economy, thereby reducing its........

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