The inflation crisis, and how to resolve it |
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annual rate average billion borrowing Bresciani-Turroni budget capital cause central bank coins commercial paper commodity consumer price index continued convertible cost deficit demand deposits depreciation devaluation discount rate dollar economic economists effect example expenditures Federal Reserve figures foreign foreign exchange market full employment German inflation gold standard higher hyperinflation income increase index number industry inflationary interest rates investment Irving Fisher issued Keynesian labor member banks ment Milton Friedman Monetarists monetary system monetary unit money and credit money stock money supply official paper marks paper money percent period Phillips curve plant ployment political politicians price rise private currencies private gold problem production profits purchasing power quantity of money quantity theory Reichsbank rentenmark result rise in prices sell speculation stock of money supply of money taxes tend theory of money tion unem unemployment unions value of money velocity of circulation wage rates