A1 a sxiety, they of prmuing much data data light on altemtive help society pdict deal with futme tlmts. Similuly, to stu dy effects of the y. in put in Me luge. hyvyrmtlatm is defim* tlut 50 month. This price thn a the os a TIW data shmv a link qumtlty of level. Fugme 4 data fmm tlut during the 1920s Hm-.gary, mand Each gmph slms tlu quantity of m y of price level. of the line rate at which of gmwing, of of growth Notice in graph gum-dity oi gmwth tlw qu,mtlty of y is at fit tm, the quu.tity of m tlu is But y starts ing At tlw mflaticm aLso off Tim quantity of stabihs. of Ten principlB Prices rise mt prin ts too mey. The Inflation Tax If inflatim-l is to why do experim is. why do tlu of tlwse to print so much tlut its value Ls certain to fall QPidly CHAPTER 30 of during hyperinflations. (Note that logMthm'e This Out auk of n graph quantity of the miation with of which state Out gmth the supply is the 100) Igu 192' 100 100 1921 is t}ut the goverts of a way to their Skmding Wlwn to its paymnG to tlw it first has to tlu y N.mlly, gct this by by borrowing fm public by mg Yet govert pay simply by printing tlw it by Evinting it to Tiw mflatm tax is like taxes, a bill fm gavent for this mflatim-' tax is Wim vuin:s dollus m wallet less fax like a erme wJw 'Olds ne of tlw vuies fn-m try to ccmtry time. In in the inflaticm a trivial G RCAVTH 653 4 Fig Pri during 192-5 tax ting 6sa PART X PRICES IN Lot" of rev.ue: It fM less 3 of goven-t During the 177th lwwevu, the of aedglmg States the pay military t a limitQi ability to tlumgh gov printing way to A. As the the w a high rate of prices m of tlun a h miredfold A Imt all hyprinflations as n high spem*ing. mg Amm re'mue. ability to bewrow. As a it printmg pay for its The in oi to inflation. inflation tlw go as in spendingthat elmimte the need the mfla tax.