Prices do not rise in unison, there are always Cantillon effects as new currency & credit begin to circulate
There is no objective aggregate price, just individual prices which we can subjectively aggregate however we choose
“Neo-Keynesians want you to believe that unit price movements are the same as aggregate prices. And it is not. The only thing that makes all prices rise in unison is the constant destruction of the purchasing power of the currency issued by a monopolistic player: the state.”
https://mises.org/wire/private-corporations-dont-cause-price-inflation-governments-do
Prices do not rise in unison, there are always Cantillon effects as new currency & credit begin to circulate
There is no objective aggregate price, just individual prices which we can subjectively aggregate however we choose
No replies yet.