Free To Choose 1980, Vol. 9: How to Cure Inflation

Free To Choose® is the ground-breaking PBS television series featuring Milton Friedman, Nobel Prize-winning economist. Filmed on location around the world, these programs have helped millions of people understand the close relationship between the ideas of human freedom and economic freedom.

How to Cure Inflation
Inflation results when the amount of money printed or coined increases faster than the creation of new goods and services. Money is a “token” of the wealth of a nation. If more tokens are created than new wealth, it takes more tokens to buy the same goods. Friedman explains why politicians like inflation, and why wage and price controls are not solutions to the problem. In this episode, Friedman visits Japan, the United States and Britain. Moderated by Robert McKenzie, featured participants include: Milton Friedman, Congressman Clarence J. Brown, William M. Martin (Chairman of Federal Reserve, 1951-1970), Beryl W. Sprinkel (Executive Vice-President, Harris Bank, Chicago), Otmar Emminger (President, Deutsche Bundesbank, Frankfurt West Germany).