Inflation and Value Creation: An Economic and Philosophic Investigation
Gennady Shkliarevsky

TL;DR
This paper investigates the root causes of inflation, identifying inefficiencies in production as the key factor, and proposes that achieving full efficiency in production is essential to resolving inflation.
Contribution
It offers a novel perspective by linking inflation to production inefficiencies and suggests modeling economic practice on the creation process to improve efficiency.
Findings
Inflation stems from production inefficiencies and waste.
Achieving full efficiency in production can resolve inflation.
Current theories and remedies are critically reviewed.
Abstract
The subject of this study is inflation, a problem that has plagued America and the world over the last several decades. Despite a rich trove of scholarly studies and a wide range of tools developed to deal with inflation, we are nowhere near a solution of this problem. We are now in the middle of the inflation that threatens to become a stagflation or even a full recession; and we have no idea what to prevent this outcome. This investigation explores the real source of inflation. Tracing the problem of inflation to production, it finds that inflation is not a phenomenon intrinsic to economy; rather, it is a result of inefficiencies and waste in our economy. The investigation leads to a conclusion that the solution of the problem of inflation is in achieving full efficiency in production. Our economic production is a result of the evolution that is propelled by the process of creation.…
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Taxonomy
TopicsEconomic Theory and Institutions · Economic Theory and Policy · Economic theories and models
