Friday, May 08, 2009
Don't worry about inflation.
Many people today are voicing worry that, because the Fed has increased the money supply so much to fight the recession, inflation is looming in our future -- for instance, in the op-ed pages of the NY Times this week, the noted economist Alan Meltzer.
But don't be afraid...
The late, great, Nobel economist Friederich Hayek demonstrates how to grab Inflation by the balls.