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Words of Wisdom
“Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security but [also] at confidence in the equity of the existing distribution of wealth.
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by John Maynard Keynes, The Economic Consequences of the Peace 1919. pp. 235-248.
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by John Maynard Keynes, The Economic Consequences of the Peace 1919. pp. 235-248.
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