What the Hell is Inflation Anyway? By Michael J. Douma

“Words mean different things to different people, and their meanings change over time. How we define inflation is a matter of choice, but we must also recognize that choice reflects more fundamental beliefs about how the economy functions.” ~ Michael J. Douma

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The American Institute for Economic Research, also known as AIER, is an economic research institute located in Great Barrington, Massachusetts. It was founded in 1933 by the 20th century economist Edward C. Harwood with the intention of protecting individual rights and continues to produce quality content on subjects of policy, philosophy and economic science.