Inflation & deflation problems
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Intros
Lessons
- Problems with Inflation & Deflation
- Income & Wealth redistribution
- Decreases GDP & Employment
- Diverts Resources from Production
- Redistribution of Income and Wealth
- Inflation → Employees worse off, Employers better off
- Deflation → Employees better off, Employers worse off
- Inflation → Borrowers better off, Lenders worse off
- Deflation → Lenders better off, Borrowers worse off
- Lowers Real GDP, Employment, & Productivity
- Inflation → Unemployment rises, GDP falls
- Deflation → Unemployment rises, recession
- More profitable to sell resources
- Hyperinflation
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