The Meaning of Inflation

The primary neurosis of economics is inflation.  This is by design.  The real culprits don’t want to be identified.  The definition is altered by politicians, but this doesn’t alter the true meaning.  Inflation is an expansion of the money supply.  It is not the increase in prices.  This is a hard truth.  Higher prices are the near inevitable result of inflation.  Inflation can only come about by printing more money.

There are endeavors to expand the money supply.  This is an easy source of revenue for the state.  This is unobservable by many, as Keynes pointed out.  There is far more resistance to taxation because it is observable.  While mining for gold can be profitable, it is also expensive and difficult.  Printing money is much easier and cheaper.  The state has essentially accomplished the alchemist trick of turning metals into gold.

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