Other inflationists realize very well that an increase in the quantity of money reduces the purchasing power of the monetary unit. But they endeavour to secure inflation none-the-less, because of its effect on the value of money; they want depreciation, because they want to favour debtors at the expense of creditors and because they want to encourage exportation and make importation difficult. Ludwig Von Mises
About This Quote

The above quote is from the preamble to a paper written in 1922 by Milton Friedman, in which he refuted the arguments of John Maynard Keynes (1883-1946). Friedman made his opposition to Keynes public when he coined the term “monetarism” in the 1950s. Friedman argued that if inflation were to happen then it should be considered a good thing.

Source: The Theory Of Money And Credit

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