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Young Eclectic Liberation Leaders (YELL!)
Inflation is a very important part of economy. The opposite of inflation is depression, both symbolize different things. An inflation is where for whatever reason the government has more bills than it is worth, therefore the value of it's bill goes down (e.g.: Economic crisis today, Dollar is lowering in value.) This means that things that used to cost a normal, expectable price now cost absurd prices. The "Great Depression" therefore might sound a little misleading, but it is referring to the emotion people felt, not what actually happened. During this time the value of the dollar inflated to a point where millionaire stock-hoarders became penniless stock-hoarders.
the Iraq-Iran war caused severe inflation, one quote being "Mom, can I have some money for clothes?" "How much?" says her mother. "Oh, 1000, 1200 Tumans." replied Marji. "I see, so that's what things cost these days." Even though the prices inflate, it is not like the wages of the people inflate, if you made $40,000 a year, you still make $40,000 a year, but $40,000 will buy A LOT less things than it used to.
"Inflation is an increase in the price of a basket of goods and services that is representative of the economy as a
is basically the rise in of price on usually needed items, such as food and gas. inflation is when the price jumps from the regular value one day and the next it makes a large increase in one shot. Basically more profits for the owner and since these are neccesaties sometimes people may have to pay it without a choice.
Inflation can also happen after a certain crisis occurs. Store owners begin to rise products to ridiculous amounts of money (called "Price Gouging") and people are forced to buy the items. And when this happens the economy in a ways stops from circulating like blood through a vein and there are many problems left over.
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