IMF: Inflation is the rate of increase in prices over a given period of time. Inflation is typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country.
Milton Friedman (famous Economists)
“Inflation is always and everywhere a monetary phenomenon, in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.”
My take is that if more money is produced they will chase the same amount of good until the prices increase enough to accommodate the new money.
Carl Barks described inflation in the best way in his 1950 Donald Duck classic: "A Financial Fable"
IMF: Inflation is the rate of increase in prices over a given period of time. Inflation is typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country.
Milton Friedman (famous Economists) “Inflation is always and everywhere a monetary phenomenon, in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.”
My take is that if more money is produced they will chase the same amount of good until the prices increase enough to accommodate the new money.
Carl Barks described inflation in the best way in his 1950 Donald Duck classic: "A Financial Fable"
https://en.wikipedia.org/wiki/A_Financial_Fable