Milton Friedman and the Genesis of Inflation Tax Analysis
- T. Norman Van Cott
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This essay argues that Milton Friedman’s initial exposition of the inflation tax on money was flawed. Ironically, the flaw traces to Friedman’s attempt to shoehorn the tax into a Keynesian (circa 1936) setting. While the subsequent inflation tax literature has never acknowledged the flaw, it also never utilized a Keynesian setting to exposit the tax.
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- Milton Friedman and the Genesis of Inflation Tax Analysis
International Advances in Economic Research
Volume 18, Issue 3 , pp 315-319
- Cover Date
- Print ISSN
- Online ISSN
- Springer US
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- Inflation tax on money
- Milton Friedman
- Industry Sectors
- Author Affiliations
- 1. Department of Economics, Ball State University, Muncie, IN, 47306, USA