You can run, but you can’t hide: inflation is here to stay. It has always been present for people in the so-called Global South, but nowadays, everybody and their mother seems to be feeling it. The world is more interconnected than ever. The situation is dire everywhere. Government systems, economic strategies, and political leanings vary, but inflation persists.

Whenever someone investigates a crime, it’s recommended to ask “cui bono?” or “who benefits?” Inflation and the consequential debasement could be considered a hidden tax, and its beneficiaries are clear: the rich and those closest to the money printer. Not to mention the government in power, which gets to finance its expensive projects without directly taxing its constituency.

Even Milton Friedman agrees. The economist behind monetarism, a monetary policy that advocates for the government to have strict control of the monetary base, once said:

“Inflation is the one form of taxation that can be imposed without legislation.”

Let’s explain how this all works and how the beneficiaries get their cut without anyone noticing.

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