reply on: Should Inflation Be Defined Only as Price Increases? \ stacker news ~econ

pull down to refresh

33 sats \ 4 replies \ @kepford 27 Jan \ on: Should Inflation Be Defined Only as Price Increases? econ

Gonna read this but my pre-read take on this is if I'm communicating with someone I use either "price-inflation or "inflation of the money supply". If I just say inflation I now assume most people think I'm talking about price inflation. I do not think you can fight against the tide of the anarchy of language. At least I can't. I'm but one node in the network.

I think the broader thing to think about here is communication. Its two-way. Assuming your agree on the definition of terms is a sure fire way to talk in circles. I really try to avoid that and I see people doing it all the time. Drives me nuts. Its harder to listen than speak. Been working on my listening skills over the past few years. It can be VERY hard and frustrating but I think its worth doing.

42 sats \ 2 replies \ @Rothbardian_fanatic 27 Jan

When I say it, I usually say, “Inflation in the money supply.” Then, I leave it at that because inflation is only and always inflation in the supply of money. Rising prices in terms of dollars is just that rising prices in terms of dollars. My big complaint is that people are always looking at things through the wrong end of the binoculars. If they turned them around they would see what is happening. They do not want to admit that an orange is an orange is an orange no matter what you pay in terms of dollars for it. The orange never changes, the changes are in the supply of money.

10 sats \ 1 reply \ @Undisciplined OP 27 Jan

people are always looking at things through the wrong end of the binoculars

I agree. That's really the core issue, whatever terminology we use for printing money and price changes.

33 sats \ 0 replies \ @Rothbardian_fanatic 27 Jan

It is also the whole reason that the progressive/lefty/Marxist/socialist/communist/murderers hijack the language to bend it to their meanings. This really reminds me of what Eric Blair warned us about language manipulation. They are channeling our thoughts because the language has been altered, which in turn, alters our perceptions. Bernays also did this and his disciples are continuing at it on the internet, though pathways like Google, Facebook and etc.

75 sats \ 0 replies \ @Undisciplined OP 27 Jan

I think that's right. I generally don't just say "inflation" either, unless I know the person I'm talking to uses it the same way I do.