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Card IV-10: MURRAY N. ROTHBARD – Inflation, then, confers no general social benefit; instead, it redistributes the wealth in favor of the first-comers and at the expense of the laggards in the race.

Series IV · Card 10 of 21 · THE VIENNA SEMINAR

Inflation, then, confers no general social benefit; instead, it redistributes the wealth in favor of the first-comers and at the expense of the laggards in the race.

MURRAY N. ROTHBARD · WHAT HAS GOVERNMENT DONE … · 1963

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Source

“What Has Government Done to Our Money?”, 1963, part III, sec. 2 “The Economic Effects of Inflation” (Mises Institute edition 2010, p. 52)

Open source · mises.org ↗

About the author

American economist and political theorist (1926–1995) whose writing on sound money, liberty, and state power strongly influenced Bitcoin thought.

The question on the back

Are you at the front or the back of the line for new money?