Thoughts? Would this be more of a finance lesson?
Most of the time, when Austrians talk about inflation, we are not talking about rising prices, that is a very neoclassical and/or keynesian way of looking at inflation. We use the original definition of inflation which deals with the increase in the money supply, or to some, an increase of the money supply beyond demand. We believe that rising prices are a result of inflation… The Kahn Academy lecture does a good job explaining the modern day textbook’s definition of inflation, but it does no use to us, or you, if you want to learn about Austrian Econ.