Inflation

Paul Davidson

Chapter Chapter 14 in Money and the Real World, 1978, pp 338-357 from Palgrave Macmillan

Abstract: Abstract It is neither rising spot prices of non-reproducible goods such as rare paintings or sculptures, nor the prices of securities listed on the New York Stock Exchange, which are the main focus of public concern in discussions of inflation. Inflation becomes a major cause of public interest only when it is the market prices of producible goods and services that bulk significantly large in consumers’ budgets that are continuously increasing. Keeping this pragmatic view of the public concern over inflation in mind, the problem can readily be analysed by concentrating on the linchpin of a monetary-production-specialisation-exchange economy, the short-run offer or flow-supply price of output.

Keywords: Profit Margin; Full Employment; Spot Price; Spot Prex; Wage Cost (search for similar items in EconPapers)
Date: 1978
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DOI: 10.1007/978-1-349-15865-2_14

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