I’m reading this again now because I remember liking it and wanted to link it in something I’m writing, however:
Yes, some countries printed too much money and very bad things happened, but no countries printed too much money because they wanted more inflation. That’s not a thing.
That is absolutely a thing that some governments do. Even if we disregard hyperinflation, when a government’s tax brackets, spending commitments and sovereign debt are denominated in nominal currency and it needs more money for stuff, the political cost of high inflation is sometimes less than it would be to raise taxes, cut spending or default on bonds.
I’m reading this again now because I remember liking it and wanted to link it in something I’m writing, however:
That is absolutely a thing that some governments do. Even if we disregard hyperinflation, when a government’s tax brackets, spending commitments and sovereign debt are denominated in nominal currency and it needs more money for stuff, the political cost of high inflation is sometimes less than it would be to raise taxes, cut spending or default on bonds.