Milton Friedman in Australia, 1975

AUSTRALIA 1975 believe Britain businessmen capital market cause of inflation central bank chart Chile Constable & Bain CONSUMER PRICE INDEX control inflation cost push inflation costs of inflation distribution of income economic economists exchange rate expansionary explicit taxes fallacy of composition finance form of taxation free enterprise free society FRIEDMAN IN AUSTRALIA fundamental going government borrows government spending gross national expenditure happens honest-to-God gold standard hyper inflation imposing inflation rate inflationary interest rates investment Japan MILTON FRIEDMAN monetarist monetary growth money per unit money supply national income phenomenon political printing press produce inflation Professor Friedman quantity of money question rate of growth rate of inflation rate of monetary reduce REPLY BY PROFESSOR Reserve Bank social costs socialised medicine source of inflation stop inflation things trade unions U.S. Treasury Department unemployment unit of output wage controls welfare