Inflation’s Moral Hazard

Besides the obvious economic consequences of inflation, Dalrymple points to its negative effects on human character:

Information from the most diverse sources sometimes coalesces and provokes reflection on a subject to which one has not previously given sufficient thought. This happened to me recently with regard to the effect of monetary inflation on human character. With many observers predicting a substantial rise in inflation as a result of various government spending programs undertaken to reverse the current global downturn, the topic is anything but academic.

I was reading The Innocence of Edith Thompson, by Lewis Broad, a book about a notorious murder in 1920s London…
Read the entire essay at City Journal.

One thought on “Inflation’s Moral Hazard

  1. AJames

    Another enlightening article. I have such an admiration for Theodore Dalrymple’s clarity of thought and remarkably well written prose. Theodore Dalrymple must be one of the greatest essayists alive. I also would like to thank the person who created this website. To have all Theodore Dalrymple’s essays in one place is just fantastic. Thank you.

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