From: rhinoceros (rhinoceros@freemail.gr)
Date: Sun Oct 26 2003 - 11:12:02 MST
[Ophis]
Inflation has nothing to do with an increase in costs of production. Inflation is caused by a decrease in value of the currency.
[rhinoceros]
I get the second part, it must be a definition, but the first part is a big surprise for me.
Newspapers, economologist, officials of the government and the EU have been telling us for years that we shouldn't ask for raises because that would would push the "inflation rate" up. Also, they have been arguing that if unemployment goes down "inflation" will go up. All along, *almost all* prices have been going up with a rate close to 3%. They all call it "inflation rate" and they tell us that we should consume less and accept zero raises if we want it to drop. Is all this false? Or at least the "no raises" part?
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