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  • Inflation is an increase in the quantity of money without a corresponding increase in the demand for money, i.e., for cash holdings.

    Ludwig von Mises
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    "The Free Market and Its Enemies". Ludwig von Mises' speech to the Foundation for Economic Education, 1951.
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Inflation is an increase in the quantity of money without a corresponding increase in the demand for money, i.e., for cash holdings. - Ludwig von Mises
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