Most economists - and nearly all central bankers seem to think that inflation is costly. But the quantity theory asserts
Posted: Sun Jul 03, 2022 6:56 am
Most economists - and nearly all central bankers
seem to think that inflation is costly. But the
quantity theory asserts that there is no long-run link
between money and output, nor between inflation
and output. Can inflation be costly if the quantity theory is true?
seem to think that inflation is costly. But the
quantity theory asserts that there is no long-run link
between money and output, nor between inflation
and output. Can inflation be costly if the quantity theory is true?