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Wednesday, June 18,2008

Definition of the Week:

Money Illusion

By Ken Reibel
 
When people are misled by inflation into thinking that they are getting richer, when in fact the value of their money is declining. Whether, and how much, people are fooled by inflation is much debated by economists. (Source: Economist.com)

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Related to:The new economymoney illusion

 

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