This is simply incorrect. From a theoretical standpoint, productivity is a volumetric measure (Outputs / Inputs). From a more practical standpoint, even if outp

This is simply incorrect. From a theoretical standpoint, productivity is a volumetric measure (Outputs / Inputs). From a more practical standpoint, even if output is measured in dollar denominated terms, the methodology used to measure TFP/MFP minimise the effects of inflation on the calculated residual, primarily by: - also measuring inputs in these terms (e.g. wages paid to labour, rents paid to capital) - adjusting prices with reference to a selected base-year so that movements in MFP/TFP are comparable across years And empirically, what has been historically observed is actually the opposite of what you suggest: productivity and inflation are inversely correlated (i.e. periods of high inflation have show low productivity and vice-versa). Here's a paper from some absurd and hubristic mainstream economists on this issue: https://www.rba.gov.au/publications/rdp/2003/pdf/rdp2003-10.pdf https://www.rba.gov.au/publications/rdp/2003/pdf/rdp2003-10.... It's actually even more complicated than just this. But I can't really be bothered to get in to it. But good luck with that Mises Institute stuff.