Page "Hyperinflation" Paragraph 19

From this, it might be wondered why any rational government would engage in actions that cause or continue hyperinflation.

One reason for such actions is that often the alternative to hyperinflation is either depression or military defeat.

The root cause is a matter of more dispute.

In both classical economics and monetarism, it is always the result of the monetary authority irresponsibly borrowing money to pay all its expenses.

These models focus on the unrestrained seigniorage of the monetary authority, and the gains from the inflation tax.