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Inflation is not considered "evil" in mainstream economics. Such orthodox schools eschew using the term "evil." |
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In [[economics]], an '''inflationist''' or '''inflationary''' [[economic policy|economic]], [[fiscal policy|fiscal]], or [[monetary policy]], is one that is predicted to lead to a substantial level of [[inflation]]. Similarly, an '''inflationist''' economist is one that advocates an inflationist policy. "Inflationism" is generally a term of abuse or a current in [[heterodox
Mainstream economics holds that inflation is a [[necessary evil]], and advocates a low, stable level of inflation, and thus is largely opposed to inflationist policies – some inflation is necessary, but inflation beyond a low level is not desirable. However, [[deflation]] is often seen as a worse danger, particularly within [[Keynesian economics]] and in the theory of [[debt deflation]], and thus the policies advocated by Keynesian economists such as [[Paul Krugman]] to prevent deflation in cases of [[economic crisis]] are labeled as inflationist policies by others.{{By whom|date=April 2011}}
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