Inflation is not caused by the actions of private citizens, but by the government: by an artificial expansion of the money supply required to support deficit spending. No private embezzlers or bank robbers in history have ever plundered people's savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments.

The Ayn Rand Lexicon: Objectivism from A to Z (ed. Penguin, 1988) - ISBN: 9781101137246