Milton Friedman and the Genesis of Inflation Tax Analysis

T. Van Cott ()

International Advances in Economic Research, 2012, vol. 18, issue 3, 315-319

Abstract: 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. Copyright International Atlantic Economic Society 2012

Keywords: Inflation tax on money; Seigniorage; Milton Friedman (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1007/s11294-012-9355-2

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