🚀 go-pugleaf

In article <1jpmsnINN1sa@jhunix.hcf.jhu.edu> kim_sh@jhunix.hcf.jhu.edu (Sung Hyun Kim) writes:
>In article <1993Jan21.211300.8065@athena.mit.edu> cmk@athena.mit.edu (Charles M Kozierok) writes:
>>i really don't understand what you are trying to say here.
>>inflation simply means an increase in prices. if the price of hammers
>>in terms of bananas increases, then there is "price inflation"
>>of hammers in terms of bananas. but that would only happen due to
>>market effects. and when the number of bananas needed to buy a hammer
>>increased, people would start making more hammers and growing fewer
>>bananas. eventually an equilibrium, or at least a stable cycle
>>would be reached. you wouldn't see the inflation continue endlessly.
>
>Wait,wait..  You are obviously thinking in terms of MICROeconomics. I had
>a hard time in swallowing those concepts of "aggregate demand","price level"
>things since it didn't seem right when you think in terms of micro.
>
>But anyway, inflation means increases in overall prices, not just one price
>in terms of others..whatever "the overall prices" means, you have to figure
>out that..but I am pretty sure that it doesn't what you are thinking.

well, the original poster was claiming that inflation did not require
money. i was simply trying to say that it did, because the kind of
"inflation" you get in a barter system would not be the same, they would
just be price fluctuations due to demand and supply. the confusion is
in trying to apply the word "inflation" to a system without currency.

--
charles