“Inflation is an increase in the quantity of money without a corresponding increase in the demand for money, i. e., for cash holdings.”
The Free Market and Its Enemies, speech to the Foundation for Economic Education https://fee.org/library/books/the-free-market-and-its-enemies/ (1951)
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Ludwig von Mises 62
austrian economist 1881–1973Related quotes

The Counter-Revolution in Monetary Theory (1970) <!-- ([[w:Institute of Economic Affairs
Context: Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output. … A steady rate of monetary growth at a moderate level can provide a framework under which a country can have little inflation and much growth. It will not produce perfect stability; it will not produce heaven on earth; but it can make an important contribution to a stable economic society.

“Money was intended to be used in exchange, but not to increase at interest.”
Book I, 1258b.4
Politics
Context: Money was intended to be used in exchange, but not to increase at interest. And this term interest, which means the birth of money from money, is applied to the breeding of money because the offspring resembles the parent. Wherefore of all modes of getting wealth this is the most unnatural.

“The demand for money is regulated entirely by its value, and its value by its quantity.”
Source: The Principles of Political Economy and Taxation (1821) (Third Edition), Chapter XIII, Taxes on Gold, p. 123

Source: The Principles of Political Economy and Taxation (1821) (Third Edition), Chapter XXXII, Malthus on Rent, p. 288

Letter to (13 May 1900)
Context: For some years I have been afflicted with the belief that flight is possible to man. My disease has increased in severity and I feel that it will soon cost me an increased amount of money if not my life. I have been trying to arrange my affairs in such a way that I can devote my entire time for a few months to experiment in this field.