32. INFLATION and other things economists agree and disagree about.

Video - At 16:25 Economist agree that inflation is caused by an increase in money supply: https://www.youtube.com/watch?v=kG8iXMaZTXE

Who benefits from inflation a)the government - it is a hidden tax - they apy and use the better money before it filters down into the economy where people realise that it is of lesser value and b)Debtors benefit by paying off their debts with depreciated paper. c) The greatest burden (in colonial America was borne by the soldiers of the Continental Army, whose wages — usually in arrears — declined in value every month, weakening their morale and adding to the hardships suffered by their families.

https://en.wikipedia.org/wiki/Economic_history_of_the_United_States