Inflation: Difference between revisions
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Inflation is according to the classical definition an increase in the [[money supply]]. In the 20th century the meaning of inflation is most commonly used to describe an increase in consumer prices (caused by an increase in the money supply). However this latter definition is confusing, especially for the needs of Bitcoin and Cryptocurrencies, since it is easy to measure [[money supply]], whereas [[consumer prices]] can only at best be estimated. | Inflation is according to the classical definition an increase in the [[money supply]]. | ||
In the 20th century the meaning of inflation is most commonly used to describe an increase in consumer prices (caused by an increase in the money supply). However this latter definition is confusing, especially for the needs of Bitcoin and Cryptocurrencies, since it is easy to measure [[money supply]], whereas [[consumer prices]] can only at best be estimated. | |||
Revision as of 17:54, 6 January 2016
Inflation is according to the classical definition an increase in the money supply.
In the 20th century the meaning of inflation is most commonly used to describe an increase in consumer prices (caused by an increase in the money supply). However this latter definition is confusing, especially for the needs of Bitcoin and Cryptocurrencies, since it is easy to measure money supply, whereas consumer prices can only at best be estimated.