What Is Inflation?
Inflation is money losing purchasing power over time. The same note buys less than it did. The interesting question is not what it is but why economists want a little of it rather than none.
Straight definitions for the terms everyone uses and nobody quite explains. Start here when you need to know what something is before you argue about it.
Start here
Inflation is money losing purchasing power over time. The same note buys less than it did. The interesting question is not what it is but why economists want a little of it rather than none.
An algorithm is a finite list of unambiguous steps for getting from an input to a result. A recipe is one. So is long division. Computers did not invent them and are not required to run them.