Listeners have noticed that when Jimmy Akin mentions how much something cost in the past, he says it's due to "inflation the government has caused." Now he and Dom Bettinelli are going to explain why he says that, what inflation is, why it happens, and why Jimmy says the government is responsible.AI-powered
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The Mystery of Inflation (Pocketbook Pain!)
Jimmy Akin's Mysterious World
What's the Price of a Jelly Bean?
In an economy, people use money as tokens of exchange for goods and services. Usually the money doesn't have any significant intrinsic value. Can you give us a simple, easy to understand example of how that works? Let's do a few mental experiments using a simplified economic system.
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