Why is unexpected inflation a societal problem?
Unexpected inflation is a problem because it lowers people's persception of wealth, and includes them spending less money. Most people dont take into account inflation whent they go to the supermarket and want to buy groceries, instead sometimes they dont buy anything because they believe that the price is too high. Becuase people then begin spending less the economy doesnt flow as well as before. Also, when people give loans with interest in a time and the inflation rate goes up, the people who lent end up losing money even if there is an interest rate, unless the interest rate is higher than the inflation rate.
The following sentence "lowers people's persception of wealth, and includes them spending less money" is difficult to understand. Your point about lending is accurate but you are not really emphasizing the points that Whelan made in the chapter.
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