Inflation

The I word

If you were born after Jimmy Carter, you haven't experienced inflation.  Here's a good primer from the Ludwig von Mises Institute   An MP3 audio file of this article, read by Dr. Floy Lilley, is available for download.]   “ Inflation, always and everywhere, is primarily caused by an increase in the supply of money and credit. In fact, inflation is the increase in the supply of money and credit. If you turn to the American College Dictionary, for example, you will find the first definition of inflation given as follows: Undue expansion or increase of the currency of a country, especially by the issuing of paper money not redeemable in specie. In recent years, however, the term has come to be used in a radically different sense. This is recognized in the second definition given by the American College Dictionary: A substantial rise of prices caused by an undue expansion in paper money or bank credit. Now obviously a rise of prices caused by an expansion of the money supply is not ...    What You Should Know About Inflation,  ”