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Source link: http://archive.mises.org/840/hayek-on-deficits/

Hayek on Deficits

September 10, 2003 by

From a 1982 article appearing in the New York Times, “A Nobel Winner Assesses Reagan”: “The only way you can finance a deficit is by inflation. You cannot raise this amount by genuine borrowing. You borrow from banks, which create credit for the purpose. A large government deficit is a certain way to inflation.”

Posted by Jude Blanchette

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