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by htfu
2153 days ago
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"In theoretical investigation there is only one meaning that can rationally be attached to the expression Inflation: an increase in the quantity of money (in the broader sense of the term, so as to include fiduciary media as well), that is not offset by a corresponding increase in the need for money (again in the broader sense of the term), so that a fall in the objective exchange-value of money must occur." - Also your guy Even Mises acknowledges there are two parts to the system and that it's, in the end, about relative pace. If that is so, the phenomenon must still be able to occur regardless of how frozen your supply, just off the second variable. "Our fringe school likes to use two common terms opposite from how everyone else does, hence you are wrong" isn't an actual argument, by the way. |
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