Economics for One

Archive for July, 2008

Inflation, the Silent Tax

Most people don’t really understand inflation.  They know it has to do with prices rising – prices for food, housing, utilities, clothes, entertainment, and everything else, really.  But beyond that, they’re often at a loss for how to define inflation.

Inflation is one of the least-understood concepts in economics.  And with good reason: in the US, we haven’t seen terrible inflation for the last couple of decades, so it hasn’t been all that important.

But we’re starting to see it now. Read more…

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