Inflation

[Martin Hash]

The most abused word in economics is "inflation." Inflation is evoked as a counter to any new economic policy by those against it, to such an extent that it has lost all credibility, and, frankly, it should. Thinking about it even for a moment, inflation occurs when the demand for a product exceeds the supply, but in America, most staples in life have an almost magically endless supply due to our advanced level of productivity. If anybody wants a new pair of shoes, or clothes, or food, or anything pedestrian, they can pay the same amount for any amount. Only status symbols can become rare, that's why they're status symbols. When I hear someone use "inflation" as a reason to be against something, I suspect ulterior motives.