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:

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