"The word “inflation” originally applied solely to the quantity of money. It meant that the volume of money was inflated, blown up, overextended. It is not mere pedantry to insist that the word should be used only in its original meaning. To use it to mean “a rise in prices” is to deflect attention away from the real cause of inflation and the real cure for it."
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"Inflation, to sum up, is the increase in the volume of money and bank credit in relation to the volume of goods. It...
Inflation Defined
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"Inflation, to sum up, is the increase in the volume of money and bank credit in relation to the volume of goods. It...
Inflation Defined