But you asked a different question? It would be better to point to an older dictionary definition of inflation to prove your point then to the Austrian definition. It is not as if the Austrian School was mainstream before.
Austrian definition of inflation
ChatGPT
According to Austrian economists, inflation is not merely the rise in the general price level of goods and services but is fundamentally linked to the increase in the supply of money and credit beyond the actual supply of goods and services in the economy.
Gemini
Austrian economists define inflation as a general increase in the money supply that is not offset by a corresponding increase in the demand for money. This leads to a decrease in the purchasing power of money, which is manifested in rising prices.
Grok
The Austrian School of Economics defines inflation primarily as an increase in the money supply that is not offset by a corresponding increase in the demand for money or in the production of goods and services.
SatsVault - Wenze /
npub1l7…0gwtp
2024-09-02 07:59:42
in reply to nevent1q…grpx
Author Public Key
npub1l72k70rvkpg8ssrrc4rsdtsza973xqek3vqf4vjp7zhvvn7ze7tsn0gwtpPublished at
2024-09-02 07:59:42Event JSON
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"content": "But you asked a different question? It would be better to point to an older dictionary definition of inflation to prove your point then to the Austrian definition. It is not as if the Austrian School was mainstream before.\n\nAustrian definition of inflation\nChatGPT\nAccording to Austrian economists, inflation is not merely the rise in the general price level of goods and services but is fundamentally linked to the increase in the supply of money and credit beyond the actual supply of goods and services in the economy.\n\nGemini\nAustrian economists define inflation as a general increase in the money supply that is not offset by a corresponding increase in the demand for money. This leads to a decrease in the purchasing power of money, which is manifested in rising prices.\n\nGrok\nThe Austrian School of Economics defines inflation primarily as an increase in the money supply that is not offset by a corresponding increase in the demand for money or in the production of goods and services. ",
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