Understanding Inflation
Don and Russ discuss the concept of inflation and the distinction between changes in individual prices and changes in the average level of prices. They emphasize that inflation is primarily caused by exogenous increases in the supply of money, rather than real shifts in resource constraints or consumer demands. The conversation highlights the importance of understanding the underlying factors that drive price changes in the economy.In this clip
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Don Boudreaux on Monetary Misunderstandings
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