Re: hyperinflation

[Brad DeLong]

>Brad, quoting the bible written by that charlatan Milton Friedman 
>doesn't prove a thing. It's the logical fallacy of appeal to 
>authority -- or to appeal to a slogan that has captured the minds of 
>the orthodox school of economics.

I didn't quote Friedman, who said "inflation is always and everywhere 
a monetary phenomenon." I misquoted him, saying "hyperinflation is 
always and everywhere a monetary phenomenon."

I think that the first is false, and the second is true...


Brad DeLong