"John M. Formsma" wrote: > Willem and Bob B, > > I was wrong about this definition of inflation, and you fellas were right > on. Oops! Sorry for displaying my ignorance. :-) > > << I thought inflation was the result of excess paper money which devalues > the > currency unit. >> > > A textbook def of inflation is: "The rate of upward movement in the price > level for an aggregate of goods and services." Grin... which if you stop to think about it for a sec... can result from your origional definition.. such as it was. Given the fact that one can live in a country where a devaluing of currency results in higher prices due to that countries reliance on import.. the price for these goods and evt. services will rise. Your textbook definition is the best so far presented as it is general enough in nature to not "forget" about all "the other things" that can influence inflation. Which just goes to show that pianotechs that increase their rates 5 to 10 dollars due to an increase in all their transport costs (in this case gasoline at the root) is such a small drop in the ocean of factors leading to inflation, that the line of reasoning which brought the whole idea into the discussion is... well... off the wall at best. grin. > > > Hey, if inflation occurs, do you think they will blame it on us piano > tuners? I mean, we have so much to do with the economy. <grin> > > John Formsma > Blue Mountain, MS -- Richard Brekne Associate PTG, N.P.T.F. Bergen, Norway
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