On the Origin and Evolution of the Word Inflation
A historical look at the origin and uses of the word inflation, arguing that although the term has become nearly synonymous with "price increase," its original meaning - a rise in the general price level caused by an imbalance between the quantity of money and trade needs - is the definition driving many of those who advocate an anti-inflation policy for the Federal Reserve.
A historical look at the origin and uses of the word inflation, arguing that although the term has become nearly synonymous with "price increase," its original meaning—a rise in the general price level caused by an imbalance between the quantity of money and trade needs—is the definition driving many of those who advocate an anti-inflation policy for the Federal Reserve.
Suggested citation: Bryan, Michael F., 1997. "On the Origin and Evolution of the Word Inflation," Federal Reserve Bank of Cleveland, Economic Commentary, 10.15.1997.
Michael F. Bryan is a contributing author and former employee of the Federal Reserve Bank of Cleveland.
The views authors express in Economic Commentary are theirs and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System.
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