4 ms·
By my thinking: - price is 0th derivative - inflation is 1st derivative (change in average price) - rate of increase in inflation is 2nd derivative - that rate
by MichaelDickens 4y ago
By my thinking:
- price is 0th derivative
- inflation is 1st derivative (change in average price)
- rate of increase in inflation is 2nd derivative
- that rate of increase is decreasing — 3rd derivative
So I think Nixon is talking about a negative 3rd derivative of price. Am I missing one?
- nullc 4y agoAh, my thinking was that since the "rate of increase" is something changing, Nixon was taking about the next derivative being non-zero. :)