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> > > The root of inflation is an increase in the cost of goods & services. > > That's a tautology. > No, it's not. Inflation, by definition, is a decrease in
by cryptonector 4y ago
> > > The root of inflation is an increase in the cost of goods & services.
> > That's a tautology.
> No, it's not. Inflation, by definition, is a decrease in the purchasing power of money.
That's the definition, and it's the same as "an increase in the cost of goods & services".
"The root [cause] of X is [definition of X]" is very much a tautology.
- acuozzo 4y agoI gave examples of several other things which can be purchased with money that are not goods & services. "Purchasing power" is therefore not limited to goods & services, but I defined inflation as an increase in the cost of goods & services alone. A tautology this is not.