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From an award-winning professor of economics, an accessible and comprehensive introduction to what causes, and what can address, increases in the cost of living.
Anyone who has balked at the price of a carton of eggs or lamented the cost of a tank of gas in the past five years has experienced the sting of inflation. What causes inflation? When has it surged historically? And which policies best address it? In this concise and timely volume, economist Martha Olney explains what inflation is, its patterns over time, its underlying causes, the controversial Phillips Curve and its possible relevance, anti-inflation policy, and more. From the obvious rise in the cost of living to the more discreet decrease in quality of goods and services, Olney provides an indispensable introduction to the concept of inflation and what we can do to address its effects.