Here is a speech from the late Nobel Prize winning economist Milton Friedmann. Its an excellent explanation of the root causes of inflation, its effects on your income, and what can be done to combat it.
This is important today as inflation is starting to reemerge (clicky).
If you’re interested in understanding personal finance, you should probably develop at least a rudimentary understanding of how inflation works. So, please do watch the video.
For more great articles on this topic, read these:
Milton Friedman on Spending Money
James Hendrickson
James Hendrickson is an internet entrepreneur, blogging junky, hunter and personal finance geek. When he’s not lurking in coffee shops in Portland, Oregon, you’ll find him in the Pacific Northwest’s great outdoors. James has a masters degree in Sociology from the University of Maryland at College Park and a Bachelors degree on Sociology from Earlham College. He loves individual stocks, bonds and precious metals.
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Hey Anon – good point!
I went back and had a look at the video. If you watch it, Youtube has a small white button in the right center of the player marked “CC”. If you click on that button it turns on the transcript of the of video .
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