Bob Murphy examines Henry Hazlitt’s treatment of inflation in Economics in One Lesson, highlighting key insights on monetary expansion, Cantillon effects, and the distinction between nominal and real variables. The lecture offers a clear, Austrian perspective on why inflation distorts rather than enriches, and why its consequences are uneven and often misunderstood.
Recorded at the Mises Institute in Auburn, Alabama, on July 24, 2025.
Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.
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