King James Version
13 Go to now, ye that say,
To day or to morrow we will go into such a city,
and continue there a year,
and buy and sell, and get gain:
14 Whereas ye know not
what shall be on the morrow.
For what is your life?
It is even a vapour,
that appeareth for a little time,
and then vanisheth away.
What is inflation?
Can it be created?
How is it controlled?
In the process of taking notes that I may write "On dishonest gain", I came across phrases like "intentional inflation", and "helicopter money".
Wow, so many terms in the world of finance.
Ought we know about these two phrases?
I believe we must.
But first, let the experts define "inflation":
"Inflation is caused by printing more money. The government's monetary policies are responsible for this. Keynesian spending policies and ideology and the abolishment of the gold standard have permitted the government to depreciate our currency."
-- Dr. Edward W. Younkins
HOW GOVERNMENT MANIPULATES MONEY AND PRODUCES INFLATION
Through common sense, we can determine "intentional inflation" as inflation, by deliberate intent, or design.
'Helicopter money" is summarized as":
Helicopter money pertains to an unconventional monetary policy tool that involves printing large sums of money and distributing it to the public to spur economic growth.
American economist and statistician Milton Friedman invented the term “helicopter money.”
Key criticisms of helicopter money include (1) its irreversibility, (2) the potential for hyperinflation, and (3) the devaluation of the domestic currency.
-- Corporate Finance Institute Team (CFI Team)
Both terms suggest "printing large sums of money".
I'm no economist.
All I know is when economists hear about that, they get concerned.
They say it will lead to inflation.
And then, a recession.
We could all use a recess from all these complicated monetary activities.
Another interesting definition of inflation can be found here:
"Inflation is a form of sovereign default. Paying off bonds with currency that is worth half as much as it used to be is like defaulting on half of the debt. And sovereign default happens not in boom times but when economies and governments are in trouble."
- John H. Cochrane
"Inflation and Debt" (National Affairs)
Let's have a look at what experts say:
Rapid inflation — deliberate policy or miscalculation?
BACK TO BASICS COMPILATION | FINANCE & DEVELOPMENT (IMF)
Inflation and Debt by John H. Cochrane (National Affairs)
Inflation Meaning by Shivani Chaluvadi (Scripbox)
Forms of Inflation (Toppr)
Types of Inflation, Remedies (UPSC notes)
What Are the Causes of Inflation? by Barbara Friedberg (Smart Asset)
The Optimum Quantity of Money Revised Edition by Milton Friedman (FREE sample chapter)