Economist John Maynard Keynes, ironically a proponent of inflationary policies, famously noted that “by a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.”
Source: Zero Hedge, “Inflation: It’s A Wealth Redistribution Scheme”
Read the article and gain some understanding about what’s been happening in America in the last eight years and in similar periods of “malaise.”
And whose model best works, Keynes confiscation or Hayek’s freedom? See or read ‘Commanding Heights: The Battle for the World Economy’
Pie the one thing we cannot escape is the fact that human beings are flawed and subject to corruption and greed.
Our readers will find information about your recommended reading/viewing here and here.
Also see or read The Ascent of Money: A Financial History of the World by Niall Ferguson.