More on inflation
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"This is an opportune moment to remind readers of a crucial distinction between inflation and rising prices. They are not the same, in spite of the commonly-held sense that they are. Inflation is an increase in the money supply (and in credit as well, though credit and capital markets in the early 1600s were small and primitive by today’s standards). Rising prices are among the many deleterious effects of the inflation. "
Up until now, me dino always just plain assumed that inflation and rising prices were the same thing.
If only there were legal competition and a free market in money tokens without "legal tender" laws.