"When the term inflation was used for the first time it referred to an increase of paper currency..."
SOURCE?
The whole article is basically about this claim. You don't want to like... I dont know... talk more about historical usage of this term?
The historical usage of the term inflation is, I think, related to the Quantity theory of money.
Of course, today when the media and government is talking about inflation they are really just referring to "price inflation".
That being said the meaning of a word can change over time, or it can have different meaning between two different people based on their bias, or even just their perception of the word.
But your point is taken.
reply