Inflation
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 Inflation  (Idea)   | |
|---|---|
| The increase in prices of goods and services in an economy |
Inflation is used both to refer to the increase of the money supply as well as to the rise in prices concomitant from this.
Note: There is a difference between increase of prices due to a shortage in supply (think crop failures) and increase in prices due to inflation, which is caused by monetary policy.
An example
| Page name | Description |
|---|---|
| Hyperinflation |
Related Quotation
| Page | Quote | Author |
|---|---|---|
| UCLA | “speak first hand of the abysmal ignorance [about inflation] of the UCLA Economics Department in the early 1960s.” | Antony Sutton |
