What Is Bad About Inflation?

John Hicks

in A Market Theory of Money

Published in print August 1989 | ISBN: 9780198287247
Published online November 2003 | e-ISBN: 9780191596407 | DOI:
 What Is Bad About Inflation?

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This chapter argues that the bad thing about inflation is principally not its effects — the losses of ‘convenience and security’ to which older economists gave so much attention — but the weakening of the economy. If that is cured, inflation, with only a little help from monetary policy, will cure itself. The subject of hyper-inflation is briefly discussed.

Keywords: inflation; monetary theory; monetary policy; hyper-inflation

Chapter.  2239 words. 

Subjects: Macroeconomics and Monetary Economics

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