Learn about the comparison between demand-pull and cost-push inflation. There has been a lot of controversy among economists over the issue whether inflation is the consequence of demand-pull or cost-push. According to F. Machlup, “The distinction between cost-push and demand-pull inflation is unworkable, irrelevant or even meaningless.” However, the debate between demand-pull and cost-push inflation […]
Demand-Pull and Cost-Push Inflation
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Comparison between Inflation and Deflation
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Learn about the comparison between inflation and deflation. Inflation brings about rising prices and redistribution of income in favour of the better-off classes. On the other hand, deflation leads to fall in output, employment and income. Of all the evils in a capitalist society, unemployment leading to poverty is the worst. We discuss below why […]