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Line 16: + + − − − − ==Politics and inflation== − − [[Bruce Bartlett]] wrote: − *Inflation is fundamentally a monetary phenomenon. The inflation of the 1970s came about primarily because Fed chairman [[Arthur Burns]] gunned the [[money supply]] to get [[Richard Nixon]] re-elected in 1972. He was followed by [[G. William Miller]], appointed by [[Jimmy Carter]]. Miller didn’t have a clue about [[monetary policy]] and only made the dismal inflation situation he inherited far worse. [http://www.nationalreview.com/nrof_bartlett/bartlett200406140846.asp] Line 48:
Line 43: − + − − ==External links== − − {{Template:Economic preparedness topics}} − − [[Category : Economic Preparedness]] − [[Category:Debt]] − [[Category:Investments]] − [[Category:Real Estate]] − [[Category:Banksters]] − [[Category:Finance]] − [[Category:Economics]] − [[Category:Precious Metals]] − [[Category:Investments in Tangibles]] − [[Category:Investments]] − [[Category:Retirement]] − [[Category:Survivalism]]
clean up - remove accidental duplicate paragraph
In economics, '''inflation''' is a general rise in the price of [[goods]] and services in relation to [[purchasing power]]. It is an economic phenomenon whereby [[fiat currency]] is devalued over time due to an increase in the total [[money supply]].
In economics, '''inflation''' is a general rise in the price of [[goods]] and services in relation to purchasing power.
Prices tend to go up when demand from consumers exceeds the normal capacity of producers to supply goods and services. An [[supply and demand|excess supply of goods and services]] tends to put downward pressure on prices.
Prices tend to go up when demand from consumers exceeds the normal capacity of producers to supply goods and services. An [[supply and demand|excess supply of goods and services]] tends to put downward pressure on prices.
==Politics and inflation==
==Politics and inflation==
In some societies, political decisions control the supply of currency. If a [[fiat currency]] is devalued over time due to an increase in the total [[money supply]], inflation will result.
Bruce Bartlett wrote:
Bruce Bartlett wrote:
*Inflation is fundamentally a monetary phenomenon. The inflation of the 1970s came about primarily because [[Federal Reserve]] chairman [[Arthur Burns]] gunned the [[money supply]] to get [[Richard Nixon]] re-elected in 1972. He was followed by [[G. William Miller]], appointed by [[Jimmy Carter]]. Miller didn’t have a clue about [[monetary policy]] and only made the dismal inflation situation he inherited far worse. [http://www.nationalreview.com/nrof_bartlett/bartlett200406140846.asp]
*Inflation is fundamentally a monetary phenomenon. The inflation of the 1970s came about primarily because [[Federal Reserve]] chairman [[Arthur Burns]] gunned the [[money supply]] to get [[Richard Nixon]] re-elected in 1972. He was followed by [[G. William Miller]], appointed by [[Jimmy Carter]]. Miller didn’t have a clue about [[monetary policy]] and only made the dismal inflation situation he inherited far worse. [http://www.nationalreview.com/nrof_bartlett/bartlett200406140846.asp]
==Measures of inflation==
==Measures of inflation==
<references/>
<references/>
== Sources ==
==External links==
* [http://www.westegg.com/inflation/ Inflation converter by year]
* [http://www.westegg.com/inflation/ Inflation converter by year]
* [http://www.measuringworth.com/ppowerus/ "Purchasing Power of Money in the United States from 1774 to 2008"], translates the value of a dollar in one year to the value today or any year
* [http://www.measuringworth.com/ppowerus/ "Purchasing Power of Money in the United States from 1774 to 2008"], translates the value of a dollar in one year to the value today or any year
[[Category:Inflation]]
[[Category:Inflation]]