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Line 1: "Hitler" redirects here. For other uses, see Hitler (disambiguation). ~~{{Refimprove\|date=July 2010}}~~ [[Image:As AD cost push.svg\|thumb\|350px\|[[AD-AS model\|Aggregate supply – aggregate demand model]] illustration of aggregate supply (AS) shifting to AS' and causing price level to increase while output shrinks]] '''Cost-push inflation''' is a type of [[inflation]] caused by substantial increases in the cost of important [[goods (economics)\|goods]] or services where no suitable alternative is available. A situation that has been often cited of this was the [[1973 oil crisis\|oil crisis]] of the 1970s, which some economists see as a major cause of the inflation experienced in the [[Western world]] in that decade. It is argued that this inflation resulted from increases in the cost of [[petroleum]] imposed by the member states of [[OPEC]]. Since petroleum is so important to industrialised economies, a large increase in its price can lead to the increase in the price of most products, raising the [[inflation rate]]. This can raise the normal or [[built-in inflation]] rate, reflecting [[adaptive expectations]] and the [[price/wage spiral]], so that a [[supply shock]] can have persistent effects. [[Keynesians]] argue that in a modern industrial economy, many prices are ''sticky downward'' or ''downward inflexible'', so that instead of prices for non-oil-related goods falling in this story, a supply shock would cause a [[recession]], i.e., rising [[unemployment]] and falling [[gross domestic product]]. It is the costs of such a recession that likely causes governments and central banks to allow a supply shock to result in inflation. They also note that though there was no deflation in the 1980s, there was a definite fall in the inflation rate during this period. Actual deflation was prevented because supply shocks are not the only cause of inflation; in terms of the modern [[triangle model]] of inflation, supply-driven deflation was counteracted by [[demand-pull inflation]] and built-in inflation resulting from [[adaptive expectations]] and the price/wage spiral. [[monetarism\|Monetarist]] economists such as [[Milton Friedman]] argue against the concept of cost-push inflation because increases in the cost of goods and services do not lead to inflation without the government and its [[central bank]] cooperating in increasing the [[money supply]]. The argument is that if the money supply is constant, increases in the cost of a good or service will decrease the money available for other goods and services, and therefore the price of some those goods will fall and offset the rise in price of those goods whose prices have increased. One consequence of this is that monetarist economists do not believe that the rise in the cost of oil was a direct cause of the inflation of the 1970s. They argue that although the price of oil went back down in the 1980s, there was no corresponding [[deflation (economics)\|deflation]]. ~~== See also ==~~ [[Stagflation]] [[Demand-pull inflation]] ~~[[Category:Inflation]]~~ ~~In simpler terms, this is caused when cost of production rise and cause the price level to rise.~~ Adolf Hitler ~~[[cs:Nákladová inflace]]~~ ~~[[pl:Inflacja kosztowa]]~~ ~~[[sk:Ponuková inflácia]]~~ ~~[[sv:Kostnadsinflation]]~~ Hitler in 1937 Führer of Germany In office 2 August 1934 – 30 April 1945 Preceded by Paul von Hindenburg (as President) Succeeded by Karl Dönitz (as President) Chancellor of Germany In office 30 January 1933 – 30 April 1945 President Paul von Hindenburg Deputy Franz von Papen Position vacant Preceded by Kurt von Schleicher Succeeded by Joseph Goebbels Reichsstatthalter of Prussia In office 30 January 1933 – 30 January 1935 Prime Minister Franz von Papen Hermann Göring Preceded by Office created Succeeded by Office abolished Personal details Born 20 April 1889 Braunau am Inn, Austria–Hungary Died 30 April 1945 (aged 56) Berlin, Germany Nationality Austrian citizen until 7 April 1925[1] German citizen after 25 February 1932 Political party National Socialist German Workers' Party (1921–1945) Other political affiliations German Workers' Party (1920–1921) Spouse(s) Eva Braun (29–30 April 1945) Occupation Politician, soldier, artist, writer Religion See: Religious views of Adolf Hitler Signature Military service Allegiance German Empire Service/branch Reichsheer Years of service 1914–1918 Rank Gefreiter Unit 16th Bavarian Reserve Regiment Battles/wars World War I Awards Iron Cross First Class Iron Cross Second Class Wound Badge Adolf Hitler (German: [ˈadɔlf ˈhɪtlɐ] ( listen); 20 April 1889 – 30 April 1945) was an Austrian-born German politician and the leader of the Nazi Party (German: Nationalsozialistische Deutsche Arbeiterpartei (NSDAP); National Socialist German Workers Party). He was chancellor of Germany from 1933 to 1945 and dictator of Nazi Germany (as Führer und Reichskanzler) from 1934 to 1945. He was at the centre of the founding of Nazism, World War II, and the Holocaust. A decorated veteran of World War I, Hitler joined the German Workers' Party (precursor of the NSDAP) in 1919, and became leader of the NSDAP in 1921. In 1923, he attempted a coup d'état, known as the Beer Hall Putsch, in Munich. The failed coup resulted in Hitler's imprisonment, during which time he wrote his memoir, Mein Kampf (My Struggle). After his release in 1924, Hitler gained popular support by attacking the Treaty of Versailles and promoting Pan-Germanism, antisemitism, and anti-communism with charismatic oratory and Nazi propaganda. After his appointment as chancellor in 1933, he transformed the Weimar Republic into the Third Reich, a single-party dictatorship based on the totalitarian and autocratic ideology of Nazism. His aim was to establish a New Order of absolute Nazi German hegemony in continental Europe. Hitler's foreign and domestic policies had the goal of seizing Lebensraum ("living space") for the Germanic people. He directed the rearmament of Germany and the invasion of Poland by the Wehrmacht in September 1939, resulting in the outbreak of World War II in Europe. Under Hitler's rule, in 1941 German forces and their European allies occupied most of Europe and North Africa. By 1943, Hitler's military decisions led to escalating defeats. In 1945 the Allied armies successfully invaded Germany. Hitler's supremacist and racially motivated policies resulted in the systematic murder of eleven million people, including an estimated six million Jews, and in the deaths of between 50 and 70 million people in World War II. In the final days of the war, during the Battle of Berlin in 1945, Hitler married his long-time mistress, Eva Braun. On 30 April 1945, less than two days later, the two committed suicide to avoid capture by the Red Army, and their corpses were burned. Contents [hide] 1 Early years 1.1 Ancestry 1.2 Childhood and education 1.3 Early adulthood in Vienna and Munich 1.4 World War I 2 Entry into politics 2.1 Beer Hall Putsch 2.2 Rebuilding the NSDAP 3 Rise to power 3.1 Brüning administration 3.2 Appointment as chancellor 3.3 Reichstag fire and March elections 3.4 Day of Potsdam and the Enabling Act 3.5 Removal of remaining limits 4 Third Reich 4.1 Economy and culture 4.2 Rearmament and new alliances 5 World War II 5.1 Early diplomatic successes 5.1.1 Alliance with Japan 5.1.2 Austria and Czechoslovakia 5.2 Start of World War II 5.3 Path to defeat 5.4 Defeat and death 5.5 The Holocaust 6 Leadership style 7 Legacy 8 Religious views

Cost-push inflation: Difference between revisions