Berger: It was rather a shock to economists to learn that some people think "inflation" means "prices of things I pay attention to are higher than I remember." It means there is more disutility associated with inflation than efficiency losses would suggest.
Berger: It was rather a shock to economists to learn that some people think "inflation" means "prices of things I pay attention to are higher than I remember." It means there is more disutility associated with inflation than efficiency losses would suggest.
Berger: It was rather a shock to economists to learn that some people think "inflation" means "prices of things I pay attention to are higher than I remember." It means there is more disutility associated with inflation than efficiency losses would suggest.