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Internet Message Format  |  1993-01-24  |  884 b 
  1. Path: sparky!uunet!zaphod.mps.ohio-state.edu!sdd.hp.com!nigel.msen.com!hela.iti.org!cs.widener.edu!dsinc!pitt.edu!wbdst
  2. From: wbdst+@pitt.edu (William B Dwinnell)
  3. Newsgroups: sci.econ
  4. Subject: Re: Inflation
  5. Message-ID: <2456@blue.cis.pitt.edu>
  6. Date: 24 Jan 93 23:09:53 GMT
  7. References: <1993Jan23.170436.10269@athena.mit.edu> <2420@blue.cis.pitt.edu> <1993Jan24.155732.10927@Princeton.EDU>
  8. Sender: news+@pitt.edu
  9. Organization: University of Pittsburgh
  10. Lines: 7
  11.  
  12.  
  13. Radford Neal:  We are not talking about society being "hurt", we are talking
  14. about inflation.  If interest generates inflation, all nominal dollars 
  15. shrink in real value, whether they earn interest or not. The ones earning
  16. interetst simply multiply. Both the principal and the interest, as nominal
  17. money, are still worth less than before: the very definition of inflation.
  18. What terminology do you object to, that i I use?
  19.