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Inflation - Wikipedia, the free encyclopedia
"In economics, inflation is a change in some important measure of money which says either real or apparent value is falling. The two most obvious versions of this, each held by some economists to be 'real' inflation, are for prices to rise compared to the currency in question, or for more of that money to be added to the economy. ..." |
Mises Made Easier - Glossary: Inflation, by Percy L. Greaves, Jr., 1974
"In popular nonscientific usage, a large increase in the quantity of money in the broader sense (q.v.) which results in a drop in the purchasing power of the monetary unit ... A more precise concept for use in theoretical analysis is any increase in the quantity of money in the broader sense which is not offset by a corresponding increase in the need for money in the broader sense, so that a fall in the objective exchange-value (purchasing power) of money must ensue. ..." |
| Articles |
12¢ Hamburgers and $600 Cars, by Mark Brandly, Mises.org Daily Article, 25 Oct 2006
"Government agencies report price inflation. If they reported monetary inflation, the inflation estimates would be much higher. The Federal Reserve expands the money supply, driving prices up. However, by reporting price inflation as they do, the ruling elite lay claim to much lower inflation rates." |
A Mission for Further Economic Ruin, by Vin Suprynowicz, Las Vegas Review-Journal, 24 Dec 2006
"What Messrs. Paulson and Bernanke have been ... telling ... in effect, is '... we're actually going to print enough paper confetti dollars to increase the world's dollar supply by 10 percent a year. That's 10 percent inflation,' — rising prices are only a sign of inflation, remember, not its cause — 'which means a worker getting a 3 percent raise actually loses 7 percent of his buying power every year ...'" |
Crushed by the Fed, by Glenn Jacobs, Freedom Daily, Jan 2008
Related Topic: The Free Market
Discusses the role of the Federal Reserve in supposedly "controlling inflation and running the economy"
"Inflation is not some natural rise in prices but instead an increase in the supply of money, which in turn gives rise to the general level of prices in the economy. ... Incidentally, before 1900, chronic inflation was not a problem in the United States; the purchasing power of a dollar in 1900 was very close to what it was in 1800. Since the Fed's creation, however, the dollar has lost 95 percent of its purchasing power." |
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Don't Believe Those Inflation Numbers, by Mark Brandly, Mises.org Daily Article, 1 Sep 2006
Related Topics: Government, Taxation
"In addition to underreporting inflation, the feds also want to conceal the cause of inflation. Federal Reserve policies pump up the money supply creating the inflation. ... The Fed points to the rising prices then claims that they must fight inflation. They position themselves as inflation hawks, although they are the cause of the problem." |
Inflation Is Legalized Robbery, Part 1, by Gregory Bresiger, Freedom Daily, Dec 2006
"Inflation is a tax because only the government creates money. ... You don't see the costs of inflation listed on a pay stub but its fearsome power eats away at your income. It is the sneakiest tax because most Americans don't understand who or what causes it and why. Therefore, I believe, inflation is the greatest, most effective, form of robbery in history." |
Inflation Is Legalized Robbery, Part 2, by Gregory Bresiger, Freedom Daily, Jan 2007
"This inflation-can-be-good philosophy appeared at the same time as the post–Great Depression Keynesian encouragement of excessive consumption, especially among lower income groups, as a way of preventing depressions. This is a culture, backed by tax policy, that virtually destroyed thrift in our country and encouraged private debt at the same time that government red ink was hitting record levels." |
Inflation and War Finance, by Ron Paul, Ron Paul's Texas Straight Talk, 29 Jan 2007
Related Topic: War
"Congress has an insatiable appetite for new spending, but raising taxes is politically unpopular. The Federal Reserve, however, is happy to accommodate deficit spending by creating new money through the Treasury Department. ... Monetary policy is utterly ignored in Washington ... The result of this arrangement is inflation. And inflation finances war." |
Speaking of Inflation, by Stu Pritchard, M.D., Freedom Daily, Jan 2006
Related Topic: Milton Friedman
"For an excellent discussion of what inflation really is and the critical role that government plays in producing it, I'd recommend for everyone's reading 'Inflation in One Page' ... Hazlitt points out ... 'Inflation is an increase in the quantity of money and credit. Its chief consequence is soaring prices. ...'" |
Under the Shadow of Inflationomics, by Hans F. Sennholz, Mises.org Daily Article, 1 Jun 2006
Related Topics: George H. W. Bush, George W. Bush, James Earl "Jimmy" Carter, Bill Clinton, Gold Standard, Richard M. Nixon, Ronald W. Reagan
"The most influential mastermind undoubtedly was John Maynard Keynes ... Cloaking his reasoning in the sophisticated language of mathematical economics, he swayed public opinion and most politicians with the urgent need for currency devaluation, inflation and credit expansion, unbalanced budgets, and deficit spending." |
Will An Oil Price Fall Push Inflation Down?, by Frank Shostak, Mises.org Daily Article, 21 Sep 2006
Related Topic: Prices
"It is a myth that price inflation is somehow led around by the nose by major sectors such as energy and has nothing to do with the money stock. Further, it is not the case that consumers are but passive players in this drama, accepting whatever prices they are given." |
Is There A Federal Deficit?, by Walter E. Williams, 19 Apr 2006
Related Topics: Taxation, Government
"Another way to force us to spend less privately is to inflate the currency. Theoretically, Congress can consume what we produce without enacting a single tax law; they could simply print money. The rising prices, which would curtail our real spending, would act as a tax. Of course, an important side effect of doing so would be economic havoc." |
The Federal War on Gold, Part 1, by Jacob G. Hornberger, Freedom Daily, Aug 2006
Related Topics: Gold Standard, Money
"That's why inflation has always been the best friend of big spenders in government. Although clearly a fraudulent way to finance government operations, history has proven that the possibility that such fraud will be figured out by an ignorant and trusting citizenry is minute." |
The Iraq War Crash: Stock market takes a dive - along with the prospects for peace in the Middle East, by Justin Raimondo, 2 Mar 2007
Related Topics: Iraq War (2003), American Enterprise Institute for Public Policy Research, China, War
"There are two ways to finance a war: one is by directly increasing taxes. This is never popular, either with the people or the politicians, and so the latter have hit upon a successful subterfuge: inflation. They simply set the government printing presses to running at high speed, sell more government securities overseas, and impose a 'hidden' tax – one that falls disproportionately on those least able to afford it." |
The Ultimate Tax Cut, by Jacob G. Hornberger, Freedom Daily, Dec 2007
Related Topics: Taxation, Government
Explains how tax cuts promised by political candidates are fraudulent, since the government expenditures still have to be paid somehow, either by taxation or monetary inflation
"The advantage of paying for government expenses through inflation, as compared to income taxation, should be obvious: Most people don't have any idea that this is the way that government is paying its bills. They think that inflation is some sort of mysterious monetary infection that just seems to strike nations randomly and unexpectedly." |
| Cartoons |
| Treasury Secretary Paulson and the Rules of Monopoly, by Jeff Danziger, 16 Dec 2007 |
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