INTERMEDIATE

Inflation

Always and Everywhere a Monetary Phenomena

In this module, you will learn that inflation is more than just higher prices and how it affects your daily life.

What is inflation?

Traditionally, inflation referred to an increase in the amount of money in circulation. Many modern economists have adopted a definition that refers to rising prices, a common effect of an increase in the money supply. Some economists will use the terms monetary inflation and price inflation to avoid this confusion of definition.

Steve Horwitz on inflation:

 

Lawrence Reed on inflation in Bolivia:

 

A full-length lecture on Money and Inflation by Lawrence Reed:

Related Freeman Articles

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Inflation 101: Cause Versus Transmission

Inflation Must Result When the Quantity of Money Increases

SEPTEMBER 01, 2008 by HOWARD BAETJER JR.

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The More College Graduates the Better?

Higher Education Equals Credential Inflation

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Why Wages Rise

Artificial Measures to Increase Income Cause Unemployment and Economic Inefficiency

AUGUST 01, 1996 by MARK SKOUSEN

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Inflation in One Page

MAY 01, 1978 by HENRY HAZLITT

Printing money to cover government deficits is curable: slash spending to balance the budget.

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November 2014

It's been 40 years since F. A. Hayek received his Nobel Prize. His insights, particularly on the distribution of knowledge and the impossibility of economic planning, remain hugely important today. In this issue, we look back on the influence of his work. Max Borders and Craig Biddle debate whether liberty must be defended from one absolute foundation, further reflections on Scottish secession, and how technology is already changing our world for the better--including how robots, despite the unease they cause, will only accelerate this process.
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