Certain Austrians are running to defend their idiosyncratic definition of “inflation” as an increase in the money supply, instead of (as people normally use it) a general increase in prices.Social Democracy For The 21St Century: A Post Keynesian Perspective
Austrians and the Definition of “Inflation”
Lord Keynes
My view is that the term "inflation" is ambiguous and also charged with connotation as to obscure the denotation, whether by technical definition or use in ordinary language contexts. Therefore, "inflation" should be relegated to the dustbin of history as archaic and no longer useful in current discourse.
