Inflation: Difference between revisions
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Inflation is a rise in the general price level created by the expansion of credit - usually by the government's printing money. It's a "legal" form of counterfeiting made possible by fiduciary (fiat) currency. The solution to inflation is to eliminate fiat currency by allowing the market to select a species (gold backed) currency. | Inflation is a rise in the general price level created by the expansion of credit - usually by the government's printing money. It's a "legal" form of counterfeiting made possible by fiduciary (fiat) currency. The solution to inflation is to eliminate fiat currency by allowing the market to select a species (gold backed) currency. | ||
Inflation usually used a form of taxation when governments face large budget deficits. | Inflation usually used a form of taxation when governments face large budget deficits. | ||
== See Also == | |||
*[[Money]] | |||
== Links == | == Links == | ||
[http://www.usagold.com/gildedopinion/Greenspan.html Alan Greenspan - Gold and Economic Freedom] | *[http://www.usagold.com/gildedopinion/Greenspan.html Alan Greenspan - Gold and Economic Freedom] | ||
*http://en.wikipedia.org/wiki/Gold_standard | *http://en.wikipedia.org/wiki/Gold_standard | ||
*http://capitalism.org/faq/inflation.htm | *http://capitalism.org/faq/inflation.htm | ||
*http://forum.objectivismonline.net/index.php?showtopic=4668 | |||
[[Category:Politics]] | [[Category:Politics]] |
Latest revision as of 23:27, 17 February 2007
Inflation is a rise in the general price level created by the expansion of credit - usually by the government's printing money. It's a "legal" form of counterfeiting made possible by fiduciary (fiat) currency. The solution to inflation is to eliminate fiat currency by allowing the market to select a species (gold backed) currency.
Inflation usually used a form of taxation when governments face large budget deficits.