Can the Temptation be Resisted?
How many of us, finding ourself with the ability to legally increase the money supply, would be able to restrain our desire for more? The opportunity to make ourself and our family wealthy, while being honored as a great benefactor of the community, would be a difficult one for most of us to resist. And if you or I could not resist such a temptation, can we expect more restraint from those in government? The answer is surely no. The only difference between you and me as individuals, and government, is that the federal government really is in a position to acquire wealth by expanding the money supply. It is clear that this is an opportunity the government has not been able to resist. Those who benefit from a growing government sector have pushed consistently and effectively for public policies that generate inflation and reduce our wealth. The problem is not that the government does not know how to eliminate inflation. The problem is that the government has not wanted to eliminate infla
