Prof. Hans F. Sennholz
Perils of Inflation
What Inflation Is
It is not money, as is sometimes said, but the
depreciation of money - the cruel and crafty de
struction of money - that is the root of many evils.
It destroys individual thrift and self-reliance as it
gradually erodes personal savings. It benefits deb
tors at the expense of creditors as it silently trans
fers wealth and...