Re:Former President Trump is projected to win the presidency
by lottin on Wednesday November 06, 2024 @02:42PM
(#42068124)
Inflation is technically defined as an increase in the price level. You'll find the term defined in this way in every single economics textbook.
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Re:Former President Trump is projected to win the presidency
by tiberious726 on Wednesday November 06, 2024 @04:10PM
(#42069458)
Entry level textbooks. It's one of those things they intentionally teach wrong to first year students in an attempt to "simplify"
Re:Former President Trump is projected to win the presidency
by lottin on Wednesday November 06, 2024 @04:25PM
(#42069660)
No, it's not an attempt to simplify. Advanced textbooks define it in the same way.
Re:Former President Trump is projected to win the presidency
by losvedir on Wednesday November 06, 2024 @04:36PM
(#42069813)
Do you have a source? I've only ever seen it defined the traditional way. Besides, you can increase the money supply and not get inflation (defined the usual way). Inflation happens when the money supply increases more than the economy needs.
Re:Former President Trump is projected to win the presidency
by seanmcdirmid on Wednesday November 06, 2024 @04:57PM
(#42070113)
Inflation happens when money supply increases more than the value of the goods that you can purchase with that money supply. It isn't about needs, but things that can be bought, especially those with limited supplies like housing.
Re:Former President Trump is projected to win the presidency
by paulryanrogers on Wednesday November 06, 2024 @10:34PM
(#42073101)
So if money supply stayed the same but a crisis reduced the supply of goods, while demand increased, then those raising prices are ... not inflation?
Re:Former President Trump is projected to win the presidency
by seanmcdirmid on Thursday November 07, 2024 @01:22AM
(#42073973)
Say Price = Money supply / value of goods
If price goes up then inflation, if price goes down then deflation. If value of good goes down and money supply stays the same, inflation.
Re:Former President Trump is projected to win the presidency
by _heimdall on Wednesday November 06, 2024 @04:39PM
(#42069865)
That definition depends on where you look, and when the definition was written. Between the roman empire and the mid 1900s inflation always referred to an increase in the money supply.