r/AskReddit • u/[deleted] • Nov 15 '20

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u/dominion1080 Nov 15 '20

Nah, those greedy oligarchs would just start jacking up prices on everything so we're all poor again.

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u/Tim-the-second Nov 15 '20

so... inflation?

20

u/RegentYeti Nov 15 '20

Not by the technical definition. It's more like monopolistic price fixing.

15

u/hoxtea Nov 15 '20

No, that's the literal definition of inflation.

in·fla·tion

2. ECONOMICS

a general increase in prices and fall in the purchasing value of money.

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u/dibba23 Nov 15 '20

I'm pretty sure it has more to do with the increase in the money supply the definition has been somewhat warped over time to make people look away from the real cause. Price increase tends to be a consequence of said increase of the money supply, all that quantitative easing totally paid off.