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Adam Smith om inflation januari 7, 2008

Posted by Fredrik Gustafsson in Ekonomisk politik.
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I och med att jag tyckte att Ron Pauls kanske bästa insats i ABC-debatten i helgen var hans poänger om inflation, kan det vara läge att ta ett citat ur Adam Smiths Wealth of Nations som jag just stötte på. Lika aktuellt då som nu:

For every country of the world, I believe, the avarice and injustice of princes and sovereign states, abusing the confidence of their subjects, have by degrees diminished the real quantity of metal, which had been originally contained in their coins … By means of those operations the princes and sovereign states which performed them were enabled, in appearance, to pay their debts and fulfil their engagements with a smaller quantity of silver than would otherwise have been requisite … Such operations, therefore, have always proved favourable to the debtor, and ruinous to the creditor, and have sometimes produced a greater and more universal revolution in the fortunes of private persons, than could have been occasioned by a very great public calamity.

Kunde inte ha sagt det bättre själv.

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