local_fire_department Inflation

Monetary inflation and loss of purchasing power

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8️⃣ Inflation

AustroBot event 2026

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"We see by experience that in France, where money is scarcer than in Spain, bread, wine, cloth, and labour are worth much less. And even in Spain, before the discovery of the Indies, goods and labour were much cheaper than they are today, for the reason that there was then much less money."

— Azpilcueta, Martín de event 1556

menu_book Comentario Resolutorio de Cambios (Commentary on Exchange)

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"The boom can last only as long as the credit expansion progresses at an ever-accelerated pace. The boom comes to an end as soon as additional quantities of fiduciary media are no longer thrown upon the loan market. But it could not last forever even if inflation and credit expansion were to go on endlessly. It would then encounter the barriers which prevent the boundless expansion of circulation credit. It would lead to the crack-up boom and the breakdown of the whole monetary system."

— von Mises, Ludwig event 1949

menu_book Human Action: A Treatise on Economics