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Macroeconomics 4: Inflation & Drinking Buddies

Planet Money Summer School

CHAPTER

How to Get Your Money Out of the Bank

People want to believe that their money is going to hold some value, whether it's for retirement or buying things in the future. They don't want to think that they've done all of this work and saved all of this money, and that the money is Going to be worthless. Inflation does erote the value of dollars, right? So we have got inflation. Of the definition of inflation is prices rising across an economy. There is also the wage price spiral. That is when prices rise and then people demand higher pay to pay those higher prices. And up and up enough, there is hyper inflation. When prices are rising by more than one thousand % a year. Before i let

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