"The truth is that a lost empire, lost power and lost wealth provide perfect circumstances for living happily and contentedly in our enchanted island."

Previous Quote

I think democracies are prone to inflation because politicians will naturally spend [excessively] - they have the power to print money and will use money to get votes. If you look at inflation under the Roman Empire, with absolute rulers, they had much greater inflation, so we don't set the record. It happens over the long-term under any form of government.

— Charlie Munger