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While I agree with Milton Friedman in general, the Norks are printing USD as fast as they can. They are rank amateurs compared to The Fed, but still, it doesn’t help.
Don’t know who the Norks are, But Milton Friedman is the man when it comes to economics. Next up Thomas Sowell:
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More Economics, Walter Williams:
I’m thinking North Koreans… 
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“Only government causes inflation”
I did not watch any of the videos above but this as a general statement is not fully accurate. Inflation is broadly defined as “a general increase in the prices of goods and services in an economy”. This definition is repeated by many supposed authoritative sources.
Although the Gubberment can cause inflation given that definition, and looking at the various causes of increases, the Gubberment is not the only cause. One of the largest causes is simple “Supply and demand”. If there is a very large supply and a very low demand then the item being supplied is expected to remain low/lower in cost.
An example of supply and demand, as it affects our industry, are the demand for houses more than a person needs. Practically why would a Husband/Wife with no or one child want a monstrous 5 bed, 4 bath, 4500 Sq. Ft. home?? Yet I see a whole lot of that in our area. As a result that had partially affected the price increases we have seen along with the building material demand to create all homes.
Unfortunately when the price of building materials climbed and Builders chose to start downsizing homes the price of building materials already inflated extraordinarily and won’t go down even if usage of materials does ever drop. Instead manufacturers will either lower production to affect supply and demand or just keep prices at those levels.
This is just one example of how inflationary causes occur.
Had you watched Thomas Sowell video, he points out that government regulation influences supply and demand. Examples given are housing prices and rent control. Politicians, pandering for votes, try to control rent and thereby pull investors out of the market causing a decline in supply. So, while it is true that supply and demand is the basic driver of inflation, the ever increasing government manipulates supply by over-regulation.
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In another contemporary example we see the government trying to manipulate demand by fiat. This would be the electric vehicle push despite supply (electrical infrastructure) not being sufficient. Most people do not want electric vehicles according to news reports.
On the supply side they are regulating appliances and natural gas products.
The end result of both of these examples is higher energy costs. Government created inflation.
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Another recent example a the state level is California’s 20 dollar an hour minimum wage law. Fast food companies have already closed completely and / or moved investments to neighboring states.
The people hurt the most by this law are the very people the politicians are pandering to get their votes. Fast food workers now out of a job are not likely to get another in that industry. Communities who depended on the economic boost of fast food retailers will be left nothing but closures and empty franchises.
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Those that live in the hills make the rules for those in the valley. I argue CA does not care about its citizens, but they do care about maniacal control. And when tyranny sets in, it is always the poor and the marginalized that are injured.
The title of the thread is “Only government causes inflation”
Also had you read my post I explicitly stated the following.
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I did read your post. “Supply and Demand,” is the textbook definition. Aa Milton Friedman points out, beginning in the early 20th century the Fed was manipulating those two and often over correcting
As government has grown this has only gotten worse.
The example you gave of the housing market is a case in point covered in the videos. While pandering to voters and promising “affordable” housing the government manipulates that market as well with catastrophic effects. There is virtually nothing in the economy that the Fed doesn’t touch.
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A true capitalistic economy if left mostly alone will keep itself on track. The only time the Gubberment should be involved in controlling the economy comes down to controlling individual corporations that stray from a proper path. Yes the Gubberment over the decades has totally FUBAR’ed our economy by interfering where they should not have.
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Yes. They make supernotes that are very difficult to identify in regular circulation.
Not sure what is meant by straying from a proper path, but I’m a laissez faire advocate and not sure if it’s ever the government’s place to control the economy. Unless a business is engaging in illegal activities, the government needs to keep its hands off of private companies. In its effort to “fix” a problem, the government has often artificially manipulated the free market system resulting in less free market competition and more regulation and dependence on the government bureaucracy. The minimum wage is only one example of government manipulation. The Federal Reserve is an another nightmare cooked up by well meaning yet ignorant progressives. The interpretation and enforcement of the commerce clause by unelected bureaucrats is another artificial manipulation of our economy. The list of other government meddling is endless. When I became a civics and economics teacher, I fell in love the words of Milton Friedman, Thomas Sowell and Art Laffer. We would be wise to heed their warnings and return to a more sound and rational approach to our economy.
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Ronnie knew!
I used the term generally since businesses also act unethically which may not be illegal in nature. Yes I agree the Gubberment should for the most part keep their hands off businesses. However there comes a time that they need to step in as only they might have the clout/power to correct a problem. Unfortunately to many Gubberment Knotheads are drunk on power and move way past any semblance of sense and control and go beyond what is needed to handle a problem or interfere where there isn’t a problem at all.
I can give you case after case where the Gubberment Knotheads should have kept their noses out and let capitalism and technology, along with consumer demand, handle the issues.
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I concur! !!
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[quote="Brian Cawhern, CMI, post:19, topic:241096, full:true, username:bcawhern1”]
[quote="slaird, post:15, topic:241096”]
When I became a civics and economics teacher, I fell in love the words of Milton Friedman, Thomas Sowell and Art Laffer. We would be wise to heed their warnings and return to a more sound and rational approach to our economy.
[/quote]
I concur! !!
[/quote]
Come on, man!!
We could infate the national debt away… 
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