Jack Dorsey Is Right About Inflation – Partly

Jack Dorsey Is Right About Inflation – Partly

What Friedman was referring to was not these one-off price increases but inflation, which he defined as a “steady and sustained rise” in the economy’s general price level. This, he argued, can occur only with monetary expansion, which, all things being equal, leads to a cycle of higher prices from a larger supply of money in circulation.

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