“The definition of inflation as rising prices says absolutely
nothing about any specific cause of rising prices. It implies,
therefore, that inflation can be caused by anything that
raises prices. Having accepted this definition, it is no
wonder that people are confused about inflation.”
- George Reisman, Capitalism: A Treatise on Economics
Wednesday 12 November 2014
Quote of the Day: On Inflation
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment