Who has heard of the monetary repression tax (MRT)? 

Very few, it seems, judging by the lack of popular anger. Yet revenues from this tax have swollen under the 2 percent inflation standard. They are now set to reach a new record level as the pandemic recedes, with guesstimates for the US alone this year around $600 billion.

Listen to the Audio Mises Wire version of this article.

In order to understand the effects of inflation it is helpful to understand that inflation is not a general rise in prices as such, but an increase in the supply of money which then sets in motion a general increase in the prices of goods and services in terms of money.

Listen to the Audio Mises Wire version of this article.

Listen to the Audio Mises Wire version of this article.

Is Babbittry alive and well in twenty-first-century America?