The Mystery of Inflation (Pocketbook Pain!)
Jimmy Akin's Mysterious World
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What Is Inflation?
Inflation is an overall rise of the prices of goods and services in an economy. We often see deflation occurring in certain sectors of the economy. Technological innovation drives the prices of technology down, and thus deflates them. But deflation can occur on a broader scale than just the price of an individual item or sector in the economy. It can occur over the economy as a whole.
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Transcript
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.
