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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Tommaso who wrote (75385)12/13/2006 4:00:20 AM
From: bart13  Read Replies (1) of 110194
 

In Paul Samuelson's classic textbook "Economics," he writes:
"By inflation we mean a time of generally rising prices for goods and factors of production--rising prices for bread, cars, haircuts; rising wages, rents, etc. By deflation we mean a time when most prices are falling."


And when you look in more advanced or older Economics texts or in the unabridged OED or Websters, you find more precise definitions that aren't simply labels that boil down to inflation being more money than goods.
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