Inflation results when the amount of money printed or coined increases faster than the creation of new goods and services. Money is a "token" of the wealth of a nation. If more tokens are created than new wealth, it takes more tokens to buy the same goods. Friedman explains why politicians like inflation, and why wage and price controls are not solutions to the problem. Friedman visits Japan, U.S. and Britain.
03-07-1980
58 min
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Main Cast
Movie Details
Production Info
Director:
David Filkin
Writer:
Milton Friedman
Key Crew
Producer:
Bob Chitester
Locations and Languages
Country:
US
Languages:
en
Main Cast
Milton Friedman
Unknown Character
Milton Friedman was an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy. With George Stigler and others, Friedman was among the intellectual leaders of the second generation of Chicago price theory, a methodological movement at the University of Chicago's Department of Economics, Law School, and Graduate School of Business from the 1940s onward.
Richard Milhous Nixon (January 9, 1913 – April 22, 1994) was the 37th president of the United States, serving from 1969 to 1974. A member of the Republican Party, Nixon previously served as the 36th vice president from 1953 to 1961, having risen to national prominence as a representative and senator from California. After five years in the White House that saw the conclusion to the U.S. involvement in the Vietnam War, détente with the Soviet Union and China, and the establishment of the Environmental Protection Agency, he became the only president to resign from the office, following the Watergate scandal.
Description above from the Wikipedia article Richard Nixon, licensed under CC-BY-SA, full list of contributors on Wikipedia.
