Inflationary Vice

Over at Law & Liberty, Theodore Dalrymple explores some of the many moral and social problems that arise from living in an inflationary economic environment.

But even less catastrophic levels of inflation have profound psychological, or perhaps I should say characterological, consequences. For one thing, inflation destroys the very idea of enough, because no one can have any confidence that a monetary income that at present is adequate will not be whittled down to very little in a matter of a few years.

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