What China’s Hyperinflation in the 1940s Can Teach Americans

Source: Foundation for Economic Education
by Lawrence W Reed

“Money originated in the marketplace as a medium of exchange. Governments, sooner or later, love to take it over, monopolize it, and then debase it to accommodate their thirst to spend. Prices soar, savings erode and economies fall apart in the chaos. It’s an old story. It’s a battle we still wage today. Neither China nor America nor any other country is immune from an age-old verdict of history and economics: Print too much and the money goes to hell.” (05/11/22)